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Why is RBI wary of stablecoin, the 'stable' crypto?
Mint Mumbai
|December 15, 2025
For years, the Reserve Bank of India (RBI) has flagged concerns over cryptocurrencies. Now, deputy governor T. Rabi Sankar has singled out stablecoins, warning that even this supposedly safer crypto corner carries systemic risks. Mint explores this asset class, and the caution.
Why are stablecoins seen as 'stable'?
Stablecoins are cryptocurrencies born in 2010s and designed for a stable value, usually by being pegged to assets such as fiat currencies, commodities or other financial instruments. They aim to mix efficiency of blockchain-based payments with the price stability needed for everyday financial use. Dollar-denominated stablecoins make for about 99% of the $225billion market and maintain a 1:1 peg, with reserves held in cash or cash-equivalent assets under custodial oversight. Their relative price stability helps users transact, store value and move money across borders while on 24x7 blockchain networks.
What did the RBI 2deputy governor say?
This story is from the December 15, 2025 edition of Mint Mumbai.
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