“Can a YC-backed India BaaS aggregator graduate into a globally-licensed cross-border payments infrastructure provider on the back of a GIFT City PSP licence?”
Decentro began as a Y Combinator-backed Indian fintech-as-a-service / BaaS API platform offering banking, KYC, payments, and ledger primitives to fintechs and businesses in India via partner banks (Axis, ICICI, Kotak, Yes Bank). Since 2024-2026 it has expanded internationally — adding US- and Singapore-incorporated platforms as customers and launching a global multi-currency payments product covering USD/SWIFT/ACH/FEDWIRE payouts. The 2026 IFSCA PSP licence at GIFT City positions Decentro as a cross-border payments infrastructure provider, not just a domestic India BaaS aggregator.
Decentro discloses Decentro (in-house, via partner banks Axis Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank) as its banking provider, with Axis Bank / ICICI Bank / Kotak Mahindra Bank / Yes Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Decentro does not disclose a bank charter of its own; its banking services are provided through Axis Bank / ICICI Bank / Kotak Mahindra Bank / Yes Bank.
Decentro processes payments through Decentro Payments (self-operated), Decentro Payment Links (self-operated), Decentro UPI Collections (self-operated), Decentro ENACH V3 (self-operated), Decentro UPI Autopay (self-operated), Decentro Virtual Accounts (self-operated) and Decentro Global Payouts — ACH / FEDWIRE / SWIFT (self-operated). Disclosed money-movement rails: UPI.
Decentro's cards are issued through Decentro Co-branded Cards & Wallets (in-house).
Decentro runs its ledger on Decentro Ledgers (in-house).
Decentro uses Decentro Global Payouts (in-house) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 8 layers in Decentro's stack: Payments / PSP (Decentro Payments (self-operated), Decentro Payment Links (self-operated), Decentro UPI Collections (self-operated), Decentro ENACH V3 (self-operated) and 3 others); Money movement (UPI); Banking / BaaS (Decentro (in-house, via partner banks Axis Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank)); Card issuing (Decentro Co-branded Cards & Wallets (in-house)); Ledger (Decentro Ledgers (in-house)); Lending (Lending APIs powering Vedfin's Revenue-Based Financing (RBF) Flexi Debt program, Banking + CKYC APIs powering CreditFair's instalment loans, Digital lending stack (KYC, disbursal, repayment, ENACH/UPI Autopay) and BNPL enablement); Sponsor bank (Axis Bank / ICICI Bank / Kotak Mahindra Bank / Yes Bank); FX & payouts (Decentro Global Payouts (in-house)).
Decentro is headquartered in Bengaluru, India.
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