Tether now costs 10% extra in India

July 1, 2026 - 08:09

A notable price discrepancy has emerged for the stablecoin Tether in India, where it is currently trading at a premium of up to 10%. This means Indian buyers are paying significantly more for one USDT than the standard one-to-one peg with the U.S. dollar.

Scott Melker, host of "The Daily Wolf," recently weighed in on the situation, explaining the reasons behind this unusual pricing. According to Melker, the premium is largely driven by a combination of local regulatory pressures and high demand from traders looking for a stable asset. India's strict cryptocurrency tax policies and ongoing uncertainty from regulators have made it harder for exchanges to operate smoothly. This creates a supply crunch, pushing the price of Tether higher on Indian platforms compared to global markets.

The premium highlights the fragmented nature of the crypto market, where local rules can create significant price gaps. For Indian investors, this means paying extra for the convenience and stability that Tether offers, especially when moving funds or hedging against volatility. The situation also reflects a broader trend of crypto assets trading at different values depending on the country's legal and economic environment. As long as India's regulatory stance remains unclear, such premiums may continue to appear.