Binance Exec Backs Rupee Stablecoin, Cites Need for Credible Local Equivalent

SB Seker, Head of Asia-Pacific at Binance, shared his insights on India's INR stablecoin case and rebuilding regulator trust in an exclusive interview with The Crypto Times.

Seker, who has a unique background as both a regulator and a builder in the crypto industry, emphasized the importance of understanding 'the other 80%' that regulators often miss. He noted that as a regulator, one sees only about 20% of the picture, whereas being involved in commercial business gives you a deeper understanding.

Seker argued that India has an opportunity to create a comparable inclusive finance solution through stablecoins, similar to what it achieved with UPI. He believes that a domestic rupee stablecoin would provide Indian users with a seamless baseline in their own currency, reducing friction and increasing credibility.

However, Seker emphasized the need for a single-currency peg, high-quality reserves, and top-tier custodianship to ensure a credible INR stablecoin. He also noted that rebuilding regulator trust requires transparency, clarity, and defined scope for permitted innovation.