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Crypto Leaders at BFSI Summit Urge Swift RBI Action on INR-Pegged Stablecoin
Industry execs push for an INR-backed stablecoin to reduce reliance on dollar tokens and strengthen monetary sovereignty.
At a major banking and fintech summit, Indian crypto executives called for the rapid issuance of a **rupee-pegged stablecoin**. Leaders from Binance APAC, CoinDCX and Bharat Web3 Association warned that over-dependence on dollar-backed stablecoins could undermine India’s monetary control.
They pitched the rupee-stablecoin as a game-changer for remittances, capital efficiency and domestic payments, calling it India’s next “UPI moment” for digital finance.