Can INR Stablecoins Reduce India’s Dependence on the US Dollar? Binance Thinks So
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- SB Seker says India needs a rupee-backed stablecoin to reduce foreign exchange exposure.
- Tron alone processes more than 60% of all global USDT transaction volume today.
- Gupta says the e-Rupee’s design limits global use, unlike INR stablecoins.
Binance APAC Head SB Seker believes India needs its own rupee-pegged stablecoin, arguing it would let Indian users and institutions hedge against dollar volatility instead of remaining exposed to currency swings beyond their control.
“Having Indian rupee stablecoins will be critical because it allows users and institutions in India to reduce the exposure they have from a foreign exchange perspective,” Seker said.
Why Dollar-Pegged Stablecoins Still Dominate
Most global stablecoins, including USDT and USDC, are pegged to the US dollar largely because that’s where deep liquidity and settlement infrastructure already e…
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