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Polygon & Anq Developing Sovereign-backed Stablecoin Tied to Indian Govt Debt
Polygon and Anq plan an Indian stablecoin backed by government securities, not speculation.
Blockchain firm Polygon and fintech startup Anq are reportedly collaborating on a sovereign-backed stablecoin model in India, backed one-to-one by government securities (G-Secs) and Treasury Bills.
This digital token - called ARC - could act as a stable, regulated asset operating within India’s financial perimeter and complement the digital rupee for programmable payments and tokenised finance.