Cross-border payments platform Skydo has received final authorisation from the International Financial Services Centres Authority (IFSCA) to operate as a Payment Service Provider (PSP) at GIFT City International Financial Services Centre, ET reported on 27 October 2026. The approval follows the in-principle authorisation granted in May 2026, and it is the kind of infrastructure news that shapes startup funding in India: investors back fintechs whose rails can move money across borders.
What Skydo can now build
The authorisation permits Skydo to build cross-border payment products from GIFT City, including multi-currency accounts, merchant acquiring and collections, and payment infrastructure for exporters, investment platforms and trade finance companies operating in the IFSC. One planned product is an IFSC-based multi-currency account for eligible Indian exporters, letting them collect and hold foreign currency, pay overseas suppliers, or convert it into rupees when required, subject to regulatory requirements.
Why the licence matters
Skydo serves more than 50,000 businesses and processes over $1 billion in annualised payment volume, according to ET. The licence also opens new use cases across global investments, trade finance and outward payments, including payment infrastructure for platforms offering access to overseas investments such as US equities, and collection and settlement capabilities for export factoring and trade finance providers.
Why it matters for founders
If you sell abroad, your payments stack is part of your product. A GIFT City PSP licence lets Skydo offer exporters multi-currency accounts and cleaner collections, which means fewer forced conversions and faster access to working capital — a practical edge for any Indian startup building a global customer base.