The Reserve Bank of India (RBI) is exploring gold tokenization as a new financial asset class, RBI Executive Director P. Vasudevan said at the Global Fintech Fest (GFF) 2026. The announcement came during a fireside chat where Vasudevan highlighted the potential of tokenizing gold to address challenges in existing asset modes, signaling RBI's interest in expanding asset tokenization beyond traditional financial instruments.
Vasudevan explained that RBI's focus is on financial asset tokenization rather than tokenizing physical real-world assets like artwork or land. He cited examples such as certificates of deposits, commercial papers, and corporate bonds as part of the financial assets ecosystem that could benefit from tokenization. This initiative builds on RBI's earlier announcement of a Unified Markets Interface (UMI) to enable tokenization and settlements through wholesale Central Bank Digital Currency (CBDC).
The move to explore gold tokenization follows RBI's broader strategy to digitize and streamline financial asset management. Unlike Maharashtra's land-tokenization efforts announced at the same event, RBI's approach targets financial instruments to enhance liquidity and transparency. The UMI platform is expected to facilitate more asset classes in the future, positioning India among countries advancing digital asset frameworks.
RBI's Executive Director P. Vasudevan made these remarks at the sixth edition of the Global Fintech Fest 2026, underscoring the central bank's ongoing commitment to fintech innovation and digital asset integration in India's financial ecosystem.