---
title: "Skydo Gets Final IFSCA Payments Licence in GIFT City"
description: "The Bengaluru cross-border payments company plans a multi-currency account that lets Indian exporters hold foreign currency instead of converting it on arrival."
url: "https://bharat.digital/originals/skydo-ifsca-final-psp-licence-gift-city/index.md"
canonical: "https://bharat.digital/originals/skydo-ifsca-final-psp-licence-gift-city/"
published: "2026-10-30T04:25:00+05:30"
updated: "2026-10-30T04:25:00+05:30"
section: "Originals"
type: "startup"
author: "bharat.digital desk"
image: "https://bharat.digital/img/originals/skydo-ifsca-final-psp-licence-gift-city-auto-af0d9bc3-og.jpg"
language: "en-IN"
site: "bharat.digital"
---

# Skydo gets final IFSCA licence to run payment services from GIFT City

*The Bengaluru cross-border payments company plans a multi-currency account that lets Indian exporters hold foreign currency instead of converting it on arrival.*

By bharat.digital desk. Startup, Startups & Fintech. Published 2026-10-30T04:25:00+05:30. 1 min read.

![Skydo gets final IFSCA licence to run payment services from GIFT City](https://bharat.digital/img/originals/skydo-ifsca-final-psp-licence-gift-city-auto-af0d9bc3-hero.webp)

## At a glance

- Company: Skydo
- What it does: Cross-border payments and export collections for Indian businesses
- Based in: Bengaluru
- Latest: Received final IFSCA PSP authorisation at GIFT City
- Date: 2026-10-27

Skydo, a Bengaluru cross-border payments platform for Indian businesses, has received final authorisation from the International Financial Services Centres Authority (IFSCA) to operate as a Payment Service Provider in the International Financial Services Centre at GIFT City. The company announced the approval on October 27. It follows an in-principle authorisation granted in May 2026, and the IFSCA register lists Skydo Payments IFSC Private Limited as a PSP registered on October 21.

The first product Skydo has flagged is an IFSC-based multi-currency account for eligible Indian exporters. Most exporters today convert foreign currency receipts into rupees soon after the money lands. The planned account would let them collect and hold foreign currency, pay overseas suppliers from that balance, or convert it when they choose, subject to the applicable rules.

The licence also covers a wider product list. Skydo plans merchant acquiring and collections, payment infrastructure for platforms that offer overseas investments such as US equities, and collection and settlement services for export factoring and trade finance providers, including possible escrow and settlement services where regulations allow.

Skydo already holds RBI authorisation as a cross-border payment aggregator for export collections and outward payments, and says it processes more than $1 billion a year in payments, according to India Fintech. The approval landed in the same week IFSCA issued financial soundness rules for payment system operators in GIFT City, though fintech PSPs like Skydo fall under separate 2024 regulations. Launch dates and pricing for the new accounts have not been announced.

## Sources

1. [ETBFSI: Skydo secures final IFSCA licence as payment service provider at GIFT City](https://bfsi.economictimes.indiatimes.com/news/fintech/skydo-gets-final-ifsca-licence-to-operate-as-psp-at-gift-city/135233230)
2. [IBS Intelligence: Skydo secures IFSCA licence to expand cross-border payments](https://ibsintelligence.com/ibsi-news/skydo-secures-ifsca-licence-to-expand-cross-border-payments/)
3. [India Fintech: Skydo wins final IFSCA payments licence](https://www.indiafintech.org/2026/10/29/skydo-final-ifsca-psp-licence-gift-city/)
4. [YourStory: Startup news and updates, daily roundup (October 27, 2026)](https://yourstory.com/2026/10/startup-news-and-updates-daily-roundup-october-27-2026)

Written by the bharat.digital desk from the sources above. Figures are as reported by those sources.