India to Launch ARC Token Backed by Government Securities
India is reportedly developing a new stablecoin, the Asset Reserve Certificate (ARC), in collaboration with Polygon Labs and fintech firm Anq. The ARC token will be directly backed by Indian government securities and Treasury Bills, ensuring its value remains pegged to the Indian Rupee. Unlike dollar-based stablecoins such as USDT or USDC, the ARC aims to retain liquidity within the country.
The project will employ a "twin-rupee" system, where the Reserve Bank of India's Digital Rupee serves as the primary settlement layer, while ARC functions as a programmable LAYER created by regulated private firms. This structure allows for innovation in financial tools while maintaining central bank control over monetary policy. The launch is expected within the next few months.
