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, said in a statement.
These new ITFS services, which are currently at the first stage, are designed to provide Indian MSMEs easy liquidity (early payment) against invoices after exporting their goods and services to US, Europe, Middle East and Singapore markets, from various financiers on boarded with ITFS (International Trade Finance System).
“The present government’s vision is to make such platforms significant participants for growing international trade, as cross-border finance platforms. The bigger goal for such platforms is to create a meaningful impact on the global export market, utilising the most of globalisation and digitalisation. All this is expected to be of a big support for the government’s vision of Making India a 5 trillion USD economy,” the global trade finance platform added in the statement.
Meanwhile, M1NXT is an international trade finance platform, regulated by the International Financial Service Authority [IFSCA]. The IFSCA focuses on the development of global connections essential for the growth of the Indian economy. The IFSCA is a unified authority for the development and regulation of financial products, financial services, and financial institutions in the International Financial Services Centre (IFSC) in India.
