More Indians Abroad Sending Money via Crypto as USDT Premium Reaches 4-5%

• USDT trades at a 4-5% premium in India, providing more rupees per dollar for remittances.
• $1,000 sent via USDT fetches ₹93,150 compared to ₹88,600 through banks.
• Market estimates suggest 3-4% of remittances have shifted from banks to stablecoins.

A change is happening in how some Indians working abroad send money home. For approximately two months, a small portion of funds remitted by overseas workers has been arriving as stablecoin instead of through traditional bank transfers.

USDT trades at a 4-5% premium in India, making crypto remittances more valuable than bank transfers. While USDT serves as a dollar proxy, its price hovers around ₹93 in India compared with the current INR-USD exchange rate of ₹88.6 per dollar.

Premium creates arbitrage opportunity

This creates a financial advantage for remittance senders. $1,000 sent by a worker from UAE or U.…

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