Skydo, a cross-border payments platform, has received regulatory approvals to expand its operations in India’s international payments ecosystem. The company has obtained in-principle approval to operate as a Payment Service Provider (PSP) in the International Financial Services Centre at Gujarat International Finance Tec-City.
It has also secured permission from the Reserve Bank of India under the Payment Aggregator–Cross Border framework for outward remittance services. These developments position Skydo to offer broader cross-border financial services from a unified platform.
Skydo’s in-principle approval to operate in GIFT City allows it to participate in India’s offshore financial hub focused on global financial transactions. The International Financial Services Centre is designed to facilitate cross-border financial activities with streamlined regulatory processes.
With this approval, Skydo can build capabilities aligned with international payment services, enhancing its product offerings. The development also reflects increased regulatory support for fintech firms operating in global transaction ecosystems.
The company is expected to introduce a range of services under the GIFT City approval to support international business operations. These include multi-currency collections, e-money accounts for managing global payments, and merchant acquisition services for cross-border trade.
The offerings are aimed at improving transaction efficiency for importers and exporters. The expanded capabilities are also expected to strengthen Skydo’s position in the international payments segment.
Skydo has also received regulatory clearance from the Reserve Bank of India to facilitate outward remittances under the Payment Aggregator–Cross Border framework. This approval complements its earlier final authorisation for handling export-related payment collections.
The PA-CB framework is designed to regulate fintech companies involved in cross-border transactions. It aims to standardise operations while ensuring compliance with financial and security norms.
With both approvals in place, Skydo can now process inbound and outbound international payments through a single platform. This includes receiving payments from overseas customers and making payments to global vendors or service providers.
The unified system is expected to streamline operations for businesses dealing in multiple currencies. According to company disclosures, Skydo currently serves over 40,000 businesses across various markets.
Read More: UPI Led India’s Payment Volumes in CY 2025 While RTGS Accounted for Most Transaction Value.
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The approvals from GIFT City and the Reserve Bank of India mark a strategic expansion for Skydo in the cross-border payments segment. The company is now positioned to offer a broader range of services covering both inbound and outbound transactions.
Its ability to integrate multiple payment functions within a single platform reflects ongoing developments in India’s fintech ecosystem. The expansion is aligned with the growing demand for efficient and compliant international payment solutions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 21, 2026, 10:46 AM IST
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