Nikhil Kamath of Indian brokerage Zerodha said a gold-backed stablecoin could better suit India, while warning that dollar-linked stablecoins may reinforce U.S. monetary influence.
Nikhil Kamath, associated with Indian brokerage Zerodha, said he supports the idea of a gold-backed stablecoin for India. He also warned that dollar-linked stablecoins, which are crypto tokens designed to maintain a fixed value against the U.S. dollar, could strengthen U.S. dominance in digital finance. The remarks point to a policy and market debate over what kind of stable digital asset framework may best align with national economic interests.