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M1xchange to help MSME exporters finance
January 25, 2023
M1xchange said ITFS will allow MSMEs to avail early payment at interest rates as low as 4-9 per cent against their invoices after exporting their goods and services to the US, Europe, Middle East and Singapore markets from various financiers on boarded with ITFS.
With the growth of the digital and globalized 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 announcing the testing.
M1xchange was among the four trade-financing platforms to get the license in 2021 from the International Financial Services Centres Authority (IFSCA), which regulates Gujarat’s Gift City-based International Financial Service Centre, to operate ITFS for the international trade financing market. Other platforms were RXIL, KredX and Vayana.
“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.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/