Prioritise CBDCs over stablecoins, RBI’s Malhotra tells central banks – Central Banking

The governor of India’s central bank has urged other monetary authorities to prioritise central bank digital currencies (CBDC) over stablecoins.

Speaking at the World Bank’s annual meetings on October 15, Reserve Bank of India governor Sanjay Malhotra discussed the digitisation of money, India’s monetary policy, and global economic developments. When asked if the RBI planned to issue its own digital currency, Malhotra said that CBDCs have “huge advantages” over stablecoins.

“I would rather urge