India Launches Blockchain Pilot for Tokenized Corporate Bonds
India has launched Demat 2.0, a blockchain pilot for tokenized corporate bonds across its massive $620 billion market.
The Securities and Exchange Board of India (SEBI) has introduced this platform to issue bonds as digital tokens on distributed ledgers.
Three companies - REC, Larsen & Toubro, and IIFL Finance - have already raised ₹1,025 crore through the system.
The tokenized bonds connect with the Reserve Bank of India's wholesale digital rupee through the Unified Market Interface.