IFSCA approves KredX for cross-border trade finance

KredX has been granted final approval by the International Financial Services Centres Authority (IFSCA) to facilitate global trade for Indian businesses through its international trade financing platform KredX GTX.

“We are the first ones to receive the final approval in India…we are now a registered entity under IFSCA. This is a very big milestone for us and for the entire trade financing ecosystem. This will further boost the export push by the government,” said Anurag Jain, Founder & Executive Director at KredX.

A platform called International Trade Financing Services (ITFS) was released in 2021 by GIFT-City and IFSCA for Global Trade financing enabled by tech platforms for exporters and importers. In October of 2022, KredX received an in-principle nod for the licence.

In addition, KredX's GTX license will enable it to offer international financing at GIFT City to Indian and foreign institutional investors for both pre- and post-shipments.