CoinDCX co-founder and CEO Sumit Gupta has called for India to embrace stablecoins. He says the technology could save the country billions in remittance fees. His comments came after Finance Minister Nirmala Sitharaman mentioned stablecoins during her address at the 4th Kautilya Economic Conclave 2025 in New Delhi.
Glad to see our Hon’ble Finance Minister, Smt. Nirmala Sitharaman ji refer to stablecoins and how countries around the world have just two options: to either explore it or risk exclusion.
I personally believe that India should embrace stablecoins! India receives over $125B in… pic.twitter.com/ODpoIXB8Gq
— Sumit Gupta (CoinDCX) (@smtgpt) October 4, 2025
Finance Minister Highlights Global Shift
During her speech, Sitharaman discussed how innovation is reshaping global finance. She noted that developing nations can no longer stay insulated from these changes. They must decide whether to adapt or risk exclusion. “The global financial system itself is being transformed,” she said. She warns that countries now face a “binary choice” to engage with new forms of money or risk being left out of the evolving economic order. Her remarks signaled a rare public acknowledgment from India’s top finance official. These technologies, such as stablecoins and digital currencies, are no longer fringe experiments. But part of a growing financial movement worldwide.
Gupta Says Stablecoins Can Save Billions
Sumit Gupta quickly echoed her message on X (formerly Twitter). Stressing the importance of adopting stablecoins for real-world use cases. “India receives over $125 billion in remittances annually,” Gupta wrote. “Stablecoins can reduce costs from 6-7% to just 1-3%, saving us billions in fees.” He added that India already has one of the strongest fintech ecosystems globally.
He points to UPI and digital banking innovations as proof. The nation is ready for the next leap in digital finance. Gupta’s comments highlight how stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar. It could help reduce costs and speed up international transfers. Unlike traditional bank routes or remittance platforms. Stablecoins allow near-instant cross border settlements with minimal fees.
Why Stablecoins Matter for India
India is the world’s largest recipient of remittances. With millions of citizens abroad sending money home every year. But traditional payment networks often charge high fees. It is eating into the income of families who rely on those funds. Stablecoins could dramatically change that. By using blockchain networks, transactions can settle within seconds instead of days. They also reduce reliance on intermediaries and cut costs. While maintaining transparency.
In addition to remittances, stablecoins can support trade finance, supply chains and international business payments. This makes them a potential backbone for India’s digital economy. But adoption will require clear regulatory guidelines. While India has been cautious about virtual digital assets. The tone of Sitharaman’s recent comments suggests a more open dialogue may be emerging.
A Digital Leap for the Fintech Giant
India’s fintech revolution, led by innovations like UPI, Aadhaar, and digital KYC. It has already made financial inclusion a national success story. Gupta believes that integrating stablecoins into this ecosystem could “further leapfrog India in the digital revolution.” Industry experts agree that if India builds the right framework for stablecoins. It could enhance financial efficiency without compromising oversight.
Sitharaman’s remarks and Gupta’s response together reflect a growing consensus. The digital transformation of money is inevitable, and India’s next major step could be deciding how it participates in that change. As global finance evolves, stablecoins may soon become a key part of India’s financial story. One that connects innovation, inclusion and the promise of saving billions for its people.
