Polygon, in collaboration with fintech startup Anq, has announced the launch of India's first government-backed stablecoin, the Asset Reserve Certificate (ARC). This digital currency is fully backed by Indian government bonds, aiming to enhance the Indian rupee by linking digital tokens to sovereign debt. ARC is designed to comply with Indian regulations, providing a faster and more cost-effective alternative to traditional payment methods and foreign-backed stablecoins. This initiative is expected to modernize India's digital financial ecosystem.