Indian fintech Skydo became the first Indian cross-border payments platform to secure a foreign payment regulatory license in Canada.

Skydo made history as the first Indian cross-border payments platform to secure an international payment license outside of India, directly entering the North American market. 

The regulatory milestone enables the Bengaluru-based fintech to operate under Canada's Retail Payment Activities Act, unlocking several key capabilities: 

• Two-Way Transactions: Facilitating seamless cross-border payment flows between India and Canada.
• Local Financial Operations: Granting Canadian and Indian businesses the ability to handle global collections and local payouts.
• Reduced Friction: Lowering high transaction fees and processing times traditionally associated with cross-border trade.  

This international expansion complements the company's recent domestic milestones, including regulatory approval under the RBI's Payment Aggregator-Cross Border (PA-CB) framework and a Payment Service Provider (PSP) license in GIFT City.