Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Crypto

India Needs Rupee-Backed Stablecoins to Diversify from Dollar Dominance

Guavy AI Editorial Team
Instruments
USDT BNB USDC
Share

Binance APAC Head SB Seker has emphasized the need for regulated rupee-backed stablecoins in India to help users and institutions reduce their reliance on U.S. dollar fluctuations.

In an interview, Seker said that INR-backed stablecoins would enable Indian users to hedge their positions in rupee terms instead of relying on dollar-backed assets like USDT and USDC.

The current reliance on dollar-backed stablecoins has been highlighted by the recent USDT supply crunch in India, which saw USDT trading at an 8.5% premium on Indian exchanges after a raid by the Enforcement Directorate.

More on Crypto

Crypto 1m ago

South Africa Proposes Stricter Rules for Cross-Border Crypto Transfers

Crypto 1m ago

TD Cowen Bullish on Circle as Morgan Stanley Sells

Crypto 2m ago

South Africa Proposes Rules for Cross-Border Crypto Transfers

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Real-time market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy