India to Launch Rupee-Pegged Stablecoin ARC in Early 2026
India plans to introduce ARC, a stablecoin pegged 1:1 to the rupee, in early 2026. The digital asset is being developed by Polygon and fintech firm Anq to reduce capital outflows to USD-backed stablecoins. ARC will operate under the Reserve Bank of India's digital currency framework and aims to support domestic debt markets by encouraging use of rupee-backed alternatives.