The Economic Times News

-backed stablecoin brings little gain, but it puts stability and bank deposits at considerable risk

India is considering regulating rupee-backed stablecoins. This move follows growing demand and concerns about financial stability. Two firms are developing India's first rupee-backed stablecoin for a 2026 launch. The government aims to explore this in its upcoming Economic Survey. However, significant challenges and risks are there, potentially impacting bank deposits and market resilience.