Skydo among first to get cross border payments licence in Gift City

Mumbai: Skydo, a cross-border payments platform for Indian exporters/businesses, is among the first to receive in-principle approval to operate as a cross-border Payment Service Provider at GIFT City IFSC.The GIFT City presence plugs Skydo into a globally-aligned finance hub built for cross-border flows. It unlocks build-for-global infra/products tailored to firms selling, buying, operating abroad. These include Indian MSMEs and startups selling abroad, freelancers and consultants. Indian firms can now receive from global clients and pay overseas vendors/software partners via a compliant, streamlined stack.The approval widens scope of servies as Skydo can provide besides multi-currency collections, e-money accounts, merchant acquisition amd open up new payment corridors.For Indian businesses this allows them to tighten pay-outs without too many intermediaries and widen pay-ins; it cut friction, speed cycles and turns cross-border ops to one-window flow. Skydo also cleared RBI’s PA-CB rails—outward flows approval, plus earlier final nod for export collections. Net-net: both sides covered.Co-founder & CEO Srivatsan Sridhar said GIFT City is a key step in building globally-competitive infra. Co-founder Movin Jain said dual frameworks bring clarity and flexibility which are fuel for compliant innovation.