Is RBI Launching India’s First Stablecoin? | India’s New Cryptocurrency Explained | UPSC
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✅India may soon step into the crypto era — officially!
Reports suggest that the Reserve Bank of India (RBI) is exploring a new stablecoin, similar to global models like USDT or USDC, but fully backed by the Indian Rupee.
After the launch of the Digital Rupee (e₹) pilot, the RBI could now introduce an upgraded version — a blockchain-based stablecoin that merges crypto flexibility with government trust.
🔹 What is the RBI’s new stablecoin project?
🔹 How is it different from private cryptocurrencies like Bitcoin or Ethereum?
🔹 Will this make crypto legal in India?
🔹 How does it connect to the Digital Rupee (CBDC) initiative?
🔹 What will it mean for investors and India’s digital economy?
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