New Delhi: Trade receivable platform for MSMEs, M1xchange, has begun testing ITFS (international version of TReDs) allowing MSMEs to avail liquidity for as low as 4-9% against their invoices. The International Financial Services Centers Authority (IFSCA) has granted a license to M1NXT (Mynd IFSCA P LTD) to set up International Trade Finance Services (ITFS) platforms. The new facility was introduced in a curtain-raiser event for Export Promotion Councils (EPCs) in New Delhi.
With the growth of the digital and globalised marketplace, M1NXT will support Indian exporters with liquidity for international trade transactions through a worldwide network of institutional financiers and banks that purchase receivables through a real-time marketplace, M1xchange said in a statement.
“The organization is trying to onboard and engage with as many national and international banks as possible for bringing the liquidity for the exporters of India,” Jacob Raphael, CEO M1NXT, ..
With the grow ..
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