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Indian Crypto Leaders Push for INR-Pegged Stablecoin to Shield Monetary Sovereignty
Crypto execs push for INR-backed stablecoin to boost financial sovereignty and payment efficiency.
At a recent BFSI summit, crypto industry leaders urged Indian regulators to issue an **INR-pegged stablecoin**, citing the need to protect monetary sovereignty. They argued that such a coin could reduce remittance costs, strengthen domestic payments infrastructure and lessen reliance on dollar-linked stablecoins.
Several participants called this a ‘new UPI moment’ for digital payments, emphasizing that an INR-backed digital asset could align innovation with national financial interests.