The trade financing platform M1xchange, which holds a licence from the Reserve Bank of India (RBI), has begun testing a new International Trade Finance Services (ITFS) platform (international version of TREDS). The new M1NXT platform would allow Indian MSMEs-exporters to access funding against invoices at relatively low rates of 4–9 per cent.
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, according to the company’s statement.
