Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar expressed concerns about the adoption of stablecoins like Tether (USDT) and USD Coin (USDC) in emerging economies. He warned that allowing stablecoins linked to foreign currencies could lead to a continuous outflow of wealth from emerging to developed economies. Sankar suggested that each country should have its own Central Bank Digital Currency (CBDC) and establish a mechanism for these CBDCs to interface and transact with each other.