The IFSCA is being projected to enable and support innovation, thereby providing a catalyst to growth in the financial services sector. Since IFSCA assumed a formal status, in two years almost two dozen lenders, including HDFC Bank, State Bank of India, HSBC, Bank of America, Axis Bank, and Standard Chartered have doubled their consolidated balance sheet size to $35 billion. The IFSCA operationalised four global trade financing services, which kick started trade financing. Internationally, this would create the first-of-a-kind of a regulator-initiated ecosystem that would facilitate cross-border trade finance with several participants.