CoinDCX CEO Calls for Stablecoin Adoption in India to Slash Remittance Fees
CoinDCX CEO Sumit Gupta has called for the adoption of stablecoins in India to significantly reduce remittance fees. Finance Minister Nirmala Sitharaman has acknowledged digital currencies, reflecting a growing consensus on their inevitability in India.
India, the world's largest remittance market, receives over $125 billion annually. Stablecoins could slash fees from 6-7% to 1-3%, saving billions. Gupta's call comes as India's digital financial revolution has achieved national success in financial inclusion. Stablecoins could enhance this further by enabling near-instant cross-border settlements with very low fees, revolutionizing remittances.
Despite Gupta's call, as of October 2025, no official clarification regarding the regulation of stablecoins in India has been publicly announced. Adoption would require clear regulatory guidelines. However, Sitharaman's speech at the Kotliya Economic Conference 2025 acknowledged stablecoins and digital currencies, indicating a shift in India's stance.
Stablecoins could become a central part of India's financial story, promising billions in savings for its citizens. With India's success in digital financial inclusion and its significant remittance market, clear regulatory guidelines could pave the way for stablecoin adoption, supporting commercial funding, supply chains, and international trade payments.
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