India pushes e-rupee through welfare pilots as BRICS digital currency plan takes shape
India is routing $80 billion in welfare payments through its e-rupee CBDC across 10 pilot programs to boost adoption and reduce subsidy leakage. The Reserve Bank of India simultaneously pushes a BRICS cross-border CBDC link to reduce dollar dependence, risking U.S. tariffs. E-rupee usage remains modest at $3.6 billion cumulative transactions versus UPI's $300 billion monthly volume.
Key takeaways
- 1India routes $80 billion welfare payments through e-rupee across 10 pilots to reduce subsidy leakage and boost CBDC adoption.
- 2E-rupee has 10 million users with $3.6 billion cumulative transactions since December 2022, far below UPI's $300 billion monthly volume.
- 3RBI pushes BRICS cross-border CBDC link to reduce dollar reliance, risking U.S. tariffs under Trump administration threats.
Coins in this story
Why it matters
India's welfare-driven e-rupee strategy seeks practical use cases for CBDC adoption while positioning itself in geopolitical de-dollarization efforts via BRICS, but faces trade tensions and modest domestic traction versus existing payment systems.
Explore how ETF is shaping crypto markets — aggregated stories, leading coins, and weekly momentum.
Explore narrativeRelated stories
US authorities freeze $344M in crypto linked to Iran
US authorities froze $344 million in cryptocurrency linked to Iran through OFAC sanctions on Tron wallets allegedly tied to the Islamic Revolutionary Guard Corps and Hezbollah. Treasury Secretary Scott Bessent confirmed Tether's simultaneous USDT freeze, targeting Tehran's ability to move funds internationally. The action escalates US-Iran tensions amid reports of Iranian crypto toll schemes for Strait of Hormuz passage.
Top memecoin holders expected to attend Trump luncheon
The US President has confirmed his attendance for the Florida event, but it's unclear whether Tron founder Justin Sun, suing the Trump family's crypto business, will appear....
