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Nikhil Kamath urges gold backed stablecoins for India over dollar options
Business
Published on 11 May 2026
He says household gold could be turned into digital value
Zerodha co founder Nikhil Kamath doubts whether dollar backed stablecoins suit India long term. Instead, he suggests exploring a gold linked stablecoin that could unlock value from idle household gold while lowering reliance on dollar dominated digital finance. He argues this approach also aligns with India’s strategic interests and reduces currency dependence.
- Kamath questions long term suitability of dollar backed stablecoins in India
- He proposes a gold linked stablecoin as an alternative
- The idea aims to monetise idle household gold holdings
- It could reduce dependence on dollar dominated digital financial systems
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times