CoinDCX CEO Sumit Gupta urges India to adopt rupee-backed stablecoins to cut remittance fees and boost India’s stablecoin adoption. There are two options for countries, said Gupta: either explore stablecoins or face exclusion of countries from digital finance. Gupta suggested a 100% rupee-backed stablecoin that is regulated by the Reserve Bank of India (RBI). If it is adopted, a rupee-backed stablecoin has the potential to redefine the way India handles remittances. Gupta’s proposal opens a clear path for modernizing the digitization of India’s financial system by regulating digital assets.