In a major regulatory breakthrough for the Indian financial technology sector, Skydo, a leading cross-border payments platform, has secured dual regulatory approvals to construct a full-stack international payments ecosystem. The fintech innovator has received in-principle approval to operate as a Payment Service Provider (PSP) within the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC). This achievement places Skydo among the very first cross-border fintech platforms to successfully secure a GIFT City license.
Simultaneously, Skydo has received regulatory approval from the Reserve Bank of India (RBI) to support outward payment flows under the Payment Aggregator-Cross Border (PA-CB) framework. This follows the final authorization the company secured from the central bank earlier this year to operate as a PA-CB specifically for export collections. By anchoring its multi-currency infrastructure in GIFT City and finalizing its dual-directional RBI PA-CB capabilities, Skydo is uniquely positioned to streamline end-to-end B2B international money transfers for Indian enterprises.
Unlocking Multi-Currency Powerhouses via GIFT City IFSC
GIFT City IFSC offers Skydo direct access to a globally aligned financial ecosystem that is uniquely regulated and structured specifically for international financial services. Traditional domestic financial systems are primarily designed around INR-denominated flows, domestic banking guardrails, and localized economic activities. In contrast, the special economic zone of GIFT City permits compliant fintech firms to engineer infrastructure natively tailored for businesses operating aggressively across global boundaries.
The in-principle PSP approval allows Skydo to introduce next-generation financial capabilities directly to Indian merchants, including:
Multi-Currency Global Collections: Enabling domestic businesses to effortlessly receive localized payments from international clients in diverse global currencies with transparent, flat-fee pricing.
Advanced E-Money Accounts: Providing digital-first exporters, freelancers, and small businesses with compliant virtual foreign currency wallets to optimize exchange rate conversions.
Comprehensive Merchant Acquisition: Facilitating robust global gateway integrations to allow international clients to pay seamlessly.
New Global Payment Corridors: Building direct clearing and settlement pipelines across major trading blocs to accelerate cross-border fund velocities.
Mastering Both Sides of the Global B2B Payment Journey
Historically, Indian small and medium enterprises (MSMEs) faced severe friction when managing their international capital workflows. While inward export collection platforms matured, making outward remittances to international software vendors, overseas marketing partners, and global supply chains remained incredibly fragmented and compliance-heavy.
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| SKYDO FULL-STACK GLOBAL PAYMENTS ECOSYSTEM |
+------------------------+--------------------------------------------------------+
| Payment Direction | Regulatory Framework & Active Capabilities |
+------------------------+--------------------------------------------------------+
| Inward Remittances | RBI PA-CB Export Authorization (Secured Final Approval)|
| Outward Remittances | RBI PA-CB Outward Framework License (Just Secured) |
| Offshore Infrastructure| GIFT City IFSC In-Principle PSP License (Just Secured) |
+------------------------+--------------------------------------------------------+
With its freshly minted dual-directional approvals, Skydo solves this operational asymmetry. Indian companies can now leverage a singular, fully compliant dashboard to manage both sides of their global financial lifecycle—receiving invoice clearances from international buyers while simultaneously automating compliant outward payouts to global service providers and tech vendors.
“GIFT City marks an important step in India’s ambition to build globally competitive financial infrastructure,” stated Srivatsan Sridhar, Co-founder and CEO of Skydo. “With the PA-CB Outward approval and the GIFT City In-Principle Authorisation, we can support both sides of a business’ global payment journey in a simple and compliant way. For MSMEs and digital-first businesses, this means better access to global payment corridors, improved currency management and more efficient cross-border transactions.”
Fueling India's $2 Trillion Export Ambition
The rapid evolution of the cross-border payments infrastructure arrives at a critical juncture for India's macroeconomic trajectory. The Government of India has established an aggressive target to achieve $2 trillion in total exports by FY30. Crucially, Micro, Small, and Medium Enterprises (MSMEs) currently drive nearly 45% of India’s overall export volumes.
As these domestic enterprises expand their international footprint, reliable digital payment networks become vital foundational infrastructure. Skydo already serves over 40,000 Indian businesses spread across 50+ cities, facilitating transactions and incoming revenue streams from more than 150 countries worldwide.
Transparent Pricing Over Hidden Fees: Skydo eliminates unpredictable exchange rate markups by offering flat, transparent processing fees, ensuring exporters retain their hard-earned margins.
Automated Compliance Lifecycles: The platform automates the cumbersome generation of Foreign Inward Remittance Advices (FIRA) and regulatory bank reporting, significantly reducing administrative compliance overheads for small business owners.
Accelerated Settlement Lifecycles: By using localized international clearing networks, the platform enables faster funds settlement compared to legacy SWIFT banking routes.
Shaping Innovative Financial Products for Emerging Cross-Border Use Cases
As the financial landscape continues to mature, regulatory clarity plays a decisive role in attracting institutional capital and fostering product innovation.
Movin Jain, Co-founder of Skydo, added: “The combination of these frameworks brings greater regulatory clarity and flexibility for fintechs to build compliant and innovative products. As GIFT City evolves into a global financial hub, multi-currency capabilities and globally aligned regulatory and risk standards will give Indian businesses a stronger foundation to scale internationally.”
Backed by premier institutional investors like Elevation Capital and Susquehanna Asia Venture Capital, Skydo currently processes over $850 million in cross-border payments annually. Moving forward, the company intends to continually scale up its product stack, venture into untapped international geographies, and build specialized payment infrastructure for emerging Web3, SaaS, and digital service export use cases.
About Skydo
Skydo is an institutional-grade cross-border payments platform engineered to help modern Indian businesses seamlessly manage international collections, payouts, and compliance automation through a single digital hub. Today, the company services a growing network of over 40,000 MSMEs, freelancers, and digital startups across 50+ cities, enabling cross-border payments from more than 150 countries with unmatched transparency and processing speed.
