Tokenization of real-world assets (RWAs) is the process of converting ownership rights of physical or traditional off-chain assets into digital tokens on a blockchain. It bridges physical wealth and digital ledgers, making historically illiquid items—like real estate, fine art, or corporate debt—divisible, easily tradable, and accessible to a global audience.
The Reserve Bank of India signalled that it would not extend the October 1, deadline for implementation for tokenisation of card based payments.
Central bank rules require all merchants to delete customer debit and credit card details before October 1 and replace card payments with unique tokens.
This rule is applicable to all stakeholders except card issuers and card networks.
Under these rules, the central bank has permitted authorized card payment networks to offer card tokenization services to consumers requesting it.
Tokenization is a process by which card details are replaced by a unique code or token, allowing online purchases to go through without exposing sensitive card details.
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