Indian cross-border fintechs chase overseas licences; Skydo bags Canada nod
Skydo has secured its first non-India payments licence in Canada, joining XFlow which holds Canada and US MSB registrations and is eyeing Singapore, Dubai, Ireland and Hong Kong. Razorpay, Cashfree and BriskPe are also pushing into global B2B cross-border flows to compete with Stripe and PayPal.
Indian cross-border fintechs are pursuing overseas payment licences to expand globally. Skydo secured a Canada payments licence, its first outside India. XFlow holds Canada licence and US MSB registration, eyeing Singapore, Dubai, Ireland, Hong Kong for B2B cross-border flows.
Why this matters
Skydo's Canada licence follows its GIFT City IFSC in-principle PSP nod and RBI outward payments approval under PA-CB, marking a shift from India-only rails to a multi-jurisdiction cross-border stack.
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