Smita Mishra 
In the era of rapid technological advancements, the world is witnessing a seismic shift in the way businesses operate, interact, and transact. The proliferation of digital technologies has given rise to innovative solutions that are redefining the fabric of global commerce. One such revolutionary concept is the emergence of seamless, secure, and cost-effective cross-border payment systems. At the forefront of this revolution is Skydo, a pioneering fintech company that is transforming the way businesses make and receive international payments.
In a significant milestone, Skydo has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity. This authorization is a testament to Skydo’s commitment to making cross-border payments compliant, seamless, and cost-effective for India’s exporters.
Skydo’s journey began in 2022, and within a short span, the company has already made a significant impact in the cross-border payments space. With over 12,000 exporters in India using its services, Skydo has processed over USD 250 million in annual export payments. The company’s mission is to make cross-border B2B payments hassle-free and reduce forex charges for businesses by more than 50%.
The RBI’s in-principle authorization is a significant endorsement of Skydo’s compliance-first culture, secure systems, and robust risk controls. This authorization will enable Skydo to scale its payments volume by 10x over the next 18-24 months, expand to support import payments, and build out more trade corridors globally.
The helm of Skydo is its visionary founder, Srivatsan Sridhar, who has demonstrated exceptional creativity and innovative thinking in revolutionizing the cross-border payments space. His leadership and foresight have been instrumental in shaping Skydo’s success, and his commitment to making a positive impact on India’s economy is truly commendable.
Srivatsan’s innovative approach to cross-border payments has not only disrupted the traditional payment systems but has also created a new paradigm for secure, efficient, and cost-effective transactions. His ability to identify gaps in the market and develop solutions that meet the evolving needs of businesses has been remarkable.
India has always been a hub of talent and innovation, and entrepreneurs like Srivatsan Sridhar are a shining example of the country’s potential. The government’s initiatives to promote startups and encourage innovation have created a fertile ground for entrepreneurs to flourish, and Skydo’s success is a testament to the power of Indian innovation.
As Skydo continues to grow and expand its services, it is clear that the company will play a significant role in shaping the future of cross-border payments in India. With its RBI in-principle authorization, Skydo is well on its way to achieving its mission and making a lasting impact on the Indian economy.
Skydo’s success is not just a reflection of the company’s innovative approach but also a testament to the country’s growing startup ecosystem. India’s startups are making waves globally, and Skydo’s achievement is a proud moment for the nation.
As we celebrate Skydo’s success, we must also acknowledge the government’s efforts to create a conducive environment for startups to thrive. The RBI’s in-principle authorization to Skydo is a significant endorsement of the government’s initiatives to promote innovation and entrepreneurship.
Skydo’s revolutionary idea and innovative approach to cross-border payments have made a significant impact on the Indian economy. The company’s success is a testament to the power of Indian innovation and the government’s efforts to promote entrepreneurship. As Skydo continues to grow and expand its services, it is clear that the company will play a significant role in shaping the future of cross-border payments in India.
