India's 2025 Fintech Summit Focuses on CBDCs, Sidelines Stablecoins

2025-10-10 16:46

India's 2025 Global Fintech Festival in Mumbai, attended by the Indian and UK Prime Ministers, concentrated on central bank digital currencies (CBDCs) while deliberately excluding discussions on stablecoins and broader cryptocurrencies. This focus underscores India's regulatory caution and preference for CBDCs, which may impede local crypto innovation. Despite global trends favoring cryptocurrencies, India's fintech market saw a significant decline, raising only $3.5 billion in 2024, marking its lowest point since 2020. Experts caution that India's restrictive stance on stablecoins could deter investment, contrasting with more open markets such as Singapore and Japan.

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