Mumbai, Sept. 11 -- Finance Minister Nirmala Sitharaman on Thursday said tokenisation is emerging as a defining development in the financial system and urged the Reserve Bank of India to further develop its Central Bank Digital Currency (CBDC) capabilities as digital assets and financial platforms increasingly expand across borders.

Speaking at the Global Fintech Fest 2026, Sitharaman said the successful pilot of a tokenised corporate bond by REC Limited under the Securities and Exchange Board of India's regulatory sandbox demonstrated how tokenisation and the digital rupee could work together to enable near-instantaneous settlement.

"This Monday, the REC Limited, the electrification company, completed India's first tokenized corporate ...