In a significant push towards digital financial innovation, Reserve Bank of India (RBI) on Wednesday launched a sandbox of retail Central Bank Digital Currency, allowing fintech firms to build and test solutions as part of the ongoing pilot.
The central bank also rolled out the tokenisation of certificates of deposit (CDs) settled via the wholesale e-rupee. This feature enables the representation of real-world financial assets, such as CDs as secure digital tokens on a blockchain ledger.
“It will give innovators the space to experiment and build on top of the digital rupee,” RBI Governor Sanjay Malhotra said.
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