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Fintech firm Decentro has become the first Indian payment aggregator to receive a special payment licence from GIFT City to handle cross-border payments.
The deets: in simple words, this means Indian businesses working with foreign clients or customers can use Decentro for things like:
- receiving international payments
- holding money in different currencies
- transferring money globally
- and managing cross-border business transactions
For context, GIFT City is India’s international finance hub built in Gujarat. Think of it as India’s attempt to create a global financial zone similar to Dubai or Singapore.
The importance: cross-border payments are still slow, expensive, and complicated for many Indian businesses, especially startups and exporters. Decentro is trying to simplify that infrastructure.
The company says the global cross-border payments market is worth nearly $200 trillion, which shows how massive this opportunity is.
