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JUST IN: 🇮🇳 Coinbase CEO argues India should create a regulated rupee stablecoin or risk adoption of dollar-backed stablecoins.

Crypto India

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43,077 Aufrufe • vor 2 Monaten •via X (Twitter)

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Standard Chartered becomes the first bank to distribute a Hong Kong dollar stablecoin, one of the first significant non dollar stablecoins "We've talked about the fact that stablecoins are eating the world, but we are yet to see much popularity of stablecoins backed by anything other than the dollar" "This is a Hong Kong dollar stablecoin that will be used for tokenized fund subscriptions, asset manager settlement, internal treasury transfers and cross border payments. Interestingly, this is not yet a retail stablecoin, but one that will be used very heavily with eligible institutions and partners, backed by a massive institution in Standard Chartered" "I think this is just another small story in the advancement of stablecoins, but it's a signal that we will see stablecoins beyond US dollar backed ones becoming extremely popular over time" "I do think we will still see largely dominance in US dollar backed stablecoins, but stablecoins are moving forward all across the world in many different iterations, and this is an unstoppable force of nature"

Standard Chartered becomes the first bank to distribute a Hong Kong dollar stablecoin, one of the first significant non dollar stablecoins "We've talked about the fact that stablecoins are eating the world, but we are yet to see much popularity of stablecoins backed by anything other than the dollar" "This is a Hong Kong dollar stablecoin that will be used for tokenized fund subscriptions, asset manager settlement, internal treasury transfers and cross border payments. Interestingly, this is not yet a retail stablecoin, but one that will be used very heavily with eligible institutions and partners, backed by a massive institution in Standard Chartered" "I think this is just another small story in the advancement of stablecoins, but it's a signal that we will see stablecoins beyond US dollar backed ones becoming extremely popular over time" "I do think we will still see largely dominance in US dollar backed stablecoins, but stablecoins are moving forward all across the world in many different iterations, and this is an unstoppable force of nature"

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🇮🇳India isn’t rushing to copy the US GENIUS Act on stablecoins. RBI Deputy Governor T. Rabi Sankar says India already has UPI and the digital rupee, while stablecoins could weaken control over money. Should India move slow for safety, or move fast for innovation?

🇮🇳India isn’t rushing to copy the US GENIUS Act on stablecoins. RBI Deputy Governor T. Rabi Sankar says India already has UPI and the digital rupee, while stablecoins could weaken control over money. Should India move slow for safety, or move fast for innovation?

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JUST IN: 🇺🇸 Bank of America to launch USD-pegged crypto stablecoin if lawmakers pass legislation, CEO says. "It's pretty clear there's going to be a stablecoin, which is going to be a fully dollar-backed... it's no different than a bank account."

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Glad to see our Hon'ble Finance Minister, Smt. Nirmala Sitharaman ji refer to stablecoins and how countries around the world have just two options: to either explore it or risk exclusion. I personally believe that India should embrace stablecoins! India receives over $125B in remittances annually, and stablecoins can reduce costs from 6-7% to just 1-3% saving us billions in fees. India already has one of the world's best fintech ecosystems and we have a great opportunity to embrace virtual digital assets and further leapfrog in the digital revolution. 🇮🇳💪

Glad to see our Hon'ble Finance Minister, Smt. Nirmala Sitharaman ji refer to stablecoins and how countries around the world have just two options: to either explore it or risk exclusion. I personally believe that India should embrace stablecoins! India receives over $125B in remittances annually, and stablecoins can reduce costs from 6-7% to just 1-3% saving us billions in fees. India already has one of the world's best fintech ecosystems and we have a great opportunity to embrace virtual digital assets and further leapfrog in the digital revolution. 🇮🇳💪

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