{"id":239771,"date":"2026-09-10T10:27:01","date_gmt":"2026-09-10T04:57:01","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=239771"},"modified":"2026-09-10T10:27:01","modified_gmt":"2026-09-10T04:57:01","slug":"rbi-gold-tokenisation-unified-markets-interface","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/","title":{"rendered":"RBI Explores Tokenising Gold Amid Push to Expand Unified Markets Interface"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>RBI is exploring gold tokenisation as part of a broader plan to add more asset classes to its Unified Markets Interface.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">RBI gold tokenisation is being explored by the central bank as part of a plan to expand the asset classes covered by its Unified Markets Interface, according to Executive Director P Vasudevan, speaking at the Global Fintech Fest 2026. The RBI gold tokenisation exploration comes alongside existing trials of certificate of deposit tokenisation, with about 248 transactions worth Rs 17,000 crore processed so far, and builds on RBI&#8217;s Card-on-File Tokenization mandate, under which around 118 crore cards have been tokenised since October 2022.<\/p>\n<\/p><\/div>\n<p>The Reserve Bank of India is looking beyond financial securities to physical assets like gold as it expands its RBI gold tokenisation ambitions.<\/p>\n<p>Here is what RBI said about gold tokenisation and its broader plans for the Unified Markets Interface.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#What_RBI_Has_Tested_So_Far\" title=\"What RBI Has Tested So Far\">What RBI Has Tested So Far<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#How_the_Platform_Would_Work_for_Gold\" title=\"How the Platform Would Work for Gold\">How the Platform Would Work for Gold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#What_is_RBI_gold_tokenisation\" title=\"What is RBI gold tokenisation?\">What is RBI gold tokenisation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#What_is_the_Unified_Markets_Interface\" title=\"What is the Unified Markets Interface?\">What is the Unified Markets Interface?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#What_has_RBI_already_tokenised_on_this_platform\" title=\"What has RBI already tokenised on this platform?\">What has RBI already tokenised on this platform?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#How_does_the_wholesale_CBDC_support_tokenisation\" title=\"How does the wholesale CBDC support tokenisation?\">How does the wholesale CBDC support tokenisation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#What_risks_did_RBI_flag_around_expanding_tokenisation\" title=\"What risks did RBI flag around expanding tokenisation?\">What risks did RBI flag around expanding tokenisation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/rbi-gold-tokenisation-unified-markets-interface\/#Has_RBI_tokenised_cards_before_this_initiative\" title=\"Has RBI tokenised cards before this initiative?\">Has RBI tokenised cards before this initiative?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_RBI_Has_Tested_So_Far\"><\/span><strong>What RBI Has Tested So Far<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ahead of considering RBI gold tokenisation, the central bank has already tested tokenisation of certificates of deposit on its Unified Markets Interface, processing about 248 transactions worth Rs 17,000 crore, roughly two-thirds of which occurred in the secondary market. RBI&#8217;s existing Card-on-File Tokenization mandate, active since October 2022, has tokenised around 118 crore cards with 5 billion transactions processed.<\/p>\n<p style=\"margin-top:24px;\"><strong>Explore More Stocks and Market News on the Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_the_Platform_Would_Work_for_Gold\"><\/span><strong>How the Platform Would Work for Gold<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>P Vasudevan explained that the Unified Markets Interface pairs tokenised assets with wholesale Central Bank Digital Currency for settlement, allowing both the asset and the payment to move on the same platform, achieving what he called atomicity of settlement with no settlement gap. He flagged legal clarity, data privacy and concentration risk as challenges that need to be addressed as RBI gold tokenisation and other asset classes are considered.<\/p>\n<p style=\"margin-top:24px;\"><strong>Download the Univest iOS App or Univest Android App to track market news on the go<\/strong><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information and may change as trading continues through the day. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_RBI_gold_tokenisation\"><\/span><strong>What is RBI gold tokenisation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It refers to RBI&#8217;s exploration of tokenising gold as an asset class on its Unified Markets Interface, as discussed by Executive Director P Vasudevan at GFF 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Unified_Markets_Interface\"><\/span><strong>What is the Unified Markets Interface?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is RBI&#8217;s platform for tokenising financial assets and settling transactions using wholesale Central Bank Digital Currency, now being considered for RBI gold tokenisation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_has_RBI_already_tokenised_on_this_platform\"><\/span><strong>What has RBI already tokenised on this platform?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> RBI has tested tokenisation of certificates of deposit, processing about 248 transactions worth Rs 17,000 crore so far, ahead of exploring RBI gold tokenisation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_does_the_wholesale_CBDC_support_tokenisation\"><\/span><strong>How does the wholesale CBDC support tokenisation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It allows the asset and the payment to settle on the same platform simultaneously, which RBI describes as atomicity of settlement with no settlement gap.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_did_RBI_flag_around_expanding_tokenisation\"><\/span><strong>What risks did RBI flag around expanding tokenisation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Legal clarity, data privacy, data movement, consent management and concentration risk were flagged as challenges relevant to RBI gold tokenisation and other asset classes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Has_RBI_tokenised_cards_before_this_initiative\"><\/span><strong>Has RBI tokenised cards before this initiative?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, RBI&#8217;s Card-on-File Tokenization mandate has been active since October 2022, tokenising around 118 crore cards.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is RBI gold tokenisation?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It refers to RBI's exploration of tokenising gold as an asset class on its Unified 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