Infosys Ltd.

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, has been inducted into International Financial Services Centres Authority’s (IFSCA) Regulatory Sandbox framework to pilot its blockchain-based trade finance solution.

In the first phase, six leading banks - Federal Bank, HDFC Bank, HSBC, ICICI Bank, RBL Bank and State Bank of India - are collaborating with Infosys Finacle in the regulatory sandbox. This collaboration will lead to comprehensive testing of the blockchain-based Buyers Credit solution, for short-term credit in foreign currency for import payments and trade finance transactions. This will serve as a precursor to the solution being available as a SaaS-based offering for all banks servicing clients from GIFT City.

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