India Preps Rupee-Backed Digital Asset for 2026 Launch

India is taking steps toward launching a regulated digital asset pegged to the Indian rupee in early 2026. This move aims to balance digital innovation with domestic monetary stability. The Asset Reserve Certificate (ARC), developed by Polygon and Anq, will function as a fully collateralized token, trading 1:1 with the Indian rupee. Unlike speculative offshore stablecoins, ARC tokens can only be minted when issuers deposit cash or cash equivalents like fixed deposits, Treasury Bills, or government securities.