Crypto
India Launches First Tokenized Corporate Bonds Using Digital Rupee
India is set to launch its first tokenized corporate bonds next month through a REC issue worth less than $57 million. The bonds will be settled using the country's digital rupee on blockchain-based infrastructure.
The pilot, developed with the Reserve Bank of India and the Securities and Exchange Board of India, aims to test whether distributed ledger technology can shorten the process of issuing, recording, and settling corporate debt.
Investors will use wholesale digital rupee and DEMAT 2.0 wallets to complete transactions. The bonds will carry an initial three-month lock-in period, with secondary trading expected by December.