Key facts
- Zerodha, Groww, Angel One, and Upstox have received licenses from IFSCA.
- The licenses allow these fintechs to offer international equity investing to Indian retail traders.
- Groww and Upstox obtained Global Access Provider licenses.
- Zerodha and Angel One became broker-dealers.
- These approvals enable direct or indirect access to U.S. stock markets.
Leading Indian fintech companies Zerodha, Groww, Angel One, and Upstox have been granted licenses by the International Financial Services Centres Authority (IFSCA) to offer access to U.S. stock markets for Indian retail investors. This regulatory approval allows these platforms to facilitate international equity investments, a move that significantly expands investment opportunities for Indian traders. Groww and Upstox have obtained licenses as Global Access Providers, a designation that enables them to offer services related to accessing foreign markets. Meanwhile, Zerodha and Angel One have been approved as broker-dealers, which permits them to engage in the buying and selling of securities, including those listed on U.S. exchanges, either directly or indirectly. This development is a major step towards democratizing access to global financial markets for a broader segment of the Indian population. The IFSCA's nod signifies a growing trend of Indian financial technology firms expanding their services beyond domestic borders and catering to the increasing demand for international investment options among Indian retail investors.