Mumbai, Dec. 13 -- Central Bank Digital Currencies (CBDCs) are digital tokens like Stablecoins, but they are inherently superior since they satisfy all the attributes that money should have, RBI Deputy Governor T Rabi Sankar argued.

According to the RBI Deputy Governor, sovereign-backed digital currencies are fiat, single, trusted, represent value and do not pose many of the risks associated with Stablecoins.

Speaking at an event in Mumbai, themed 'Stablecoins - Do They Have a Role in the Financial System', the RBI Deputy Governor noted that India's approach to Stablecoins must be guided by caution and an appreciation of domestic imperatives.

Stablecoins lack the basic attributes of money, their advantages are neither unique nor unambi...