RBI to launch pilot on certificate of deposit tokenisation
The Reserve Bank of India (RBI) will launch a pilot program on the tokenisation of certificates of deposit, an official from the central bank announced.
The initiative will use the wholesale segment of the central bank digital currency (CBDC) as its underlying layer, Chief General Manager Suvendu Pati said at an event in Mumbai. He added that the RBI is collaborating with several banks on the project, News.Az reports, citing Reuters.
Tokenisation involves creating digital representations of assets such as deposits, stocks, or bonds on a blockchain, potentially making transactions faster, cheaper, and more secure.
Pati noted that regulatory integrity and enforceability must be ensured for asset tokenisation, adding that associated risks are “manageable” with proper oversight. The RBI is also considering similar experiments with money market instruments, including commercial papers.
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