Sumit Gupta claims stablecoins are key to India’s $125 billion fee reduction

Sumit Gupta, co-founder and CEO of CoinDCX, called for India to embrace stablecoins. He said the technology could save the country billions of dollars in remittance fees. His comments came after Finance Minister Nirmala Sitharaman mentioned stablecoins in her speech at the 4th Kautilya Economic Conference 2025 in New Delhi.

Finance Minister emphasizes global shift

In her speech, Sitharaman talked about how innovation is reshaping global finance. He pointed out that developing countries can no longer protect themselves from these changes. They must decide whether to adapt or eliminate the risk. “The global financial system itself is being transformed,” she said. She warns that countries now face a “choice”: take advantage of new forms of money or risk being left behind in the evolving economic order. Her remarks signaled an unusual public endorsement from India’s top financial official. These technologies, such as stablecoins and digital currencies, are no longer fringe experiments. But it is part of a growing financial movement around the world.

Gupta says stablecoins could save billions of dollars

Sumit Gupta quickly reiterated her message on X (formerly Twitter). Highlights the importance of adopting stablecoins for real-world use cases. “India receives more than $125 billion in remittances annually,” Mr. Gupta wrote. “Stablecoins can reduce costs from 6-7% to just 1-3%, saving billions of dollars in fees,” he said, adding that India already has one of the strongest fintech ecosystems globally.

He points to UPI and digital banking innovations as evidence of this. The country is ready for the next leap in digital finance. Mr. Gupta’s comments highlight how stablecoins, which are digital tokens, are pegged to fiat currencies such as the U.S. dollar. It could help reduce costs and speed up international money transfers. It is different from traditional banking channels and remittance platforms. Stablecoins enable near-instant cross-border payments with minimal fees.

Why stablecoins are important for India

India is the world’s largest remittance receiving country. Every year, millions of overseas citizens send money home. However, traditional payment networks often charge high fees. They are eating up the income of families who depend on those funds. Stablecoins could change that dramatically. By using blockchain networks, transactions are settled within seconds instead of days. It also reduces dependence on intermediaries and reduces costs. While maintaining transparency.

In addition to remittances, stablecoins can also support trade finance, supply chains, and international business payments. This makes them the potential backbone of India’s digital economy. However, implementation will require clear regulatory guidelines. On the other hand, India is cautious about virtual digital assets. The tone of Sitharaman’s recent comments suggests a more open dialogue may be emerging.

Fintech giant’s digital leap forward

India’s fintech revolution led by innovations like UPI, Aadhaar, and digital KYC. Financial inclusion is already a national success story. Mr. Gupta believes that integrating stablecoins into this ecosystem will help “take India even further in the digital revolution.” Industry experts agree that India could build a proper framework for stablecoins. Financial efficiency can be increased without compromising oversight.

Sitharaman’s remarks and Gupta’s reaction reflect a growing sense of unity. The digital transformation of money is inevitable, and India’s next big step may be deciding how to participate in that change. As global finance evolves, stablecoins may soon become an important part of India’s financial story. It combines innovation, inclusion, and a promise to save billions of dollars for our people.