Can India build a ‘UPI’ for your cows and your gold?

Earlier this month, at the Global Fintech Fest in Mumbai, India's regulators and industry leaders rallied around one idea: tokenisation, which turns assets like bonds, gold and land into digital units that can be bought, sold and settled in seconds. Some of it is already underway, with three companies recently raising over Rs 1,000 crore through bonds that settled the same day.But the plan leans heavily on the RBI's digital rupee, which has seen little use four years after launch. And Indian banks have bet on blockchain before, without much to show for it.In this edition, Suprita Anupam examines whether tokenisation can do for financial assets what UPI did for payments.This is a read aloud of a newsletter edition of Ka Ching, by Snigdha Sharma on Daybreak by The Ken.📖 Read the full story on The Ken: Can India build a ‘UPI’ for your cows and your gold?Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.