India Launches Pilot for Tokenized Corporate Bonds with $107 Million Issued
- Three companies have issued a total of ₹10.25 billion (approximately $107 million) in tokenized corporate bonds.
- The pilot, called Demat 2.0, allows bonds to be issued and held as digital tokens on a distributed ledger.
- Public-sector lender REC raised ₹5 billion from investors on the first day of issuance.
- Larsen & Toubro also raised ₹5 billion, while IIFL issued ₹250 million in bonds.
- The system connects to the Reserve Bank of India’s wholesale CBDC through its Unified Market Interface.
This initiative is designed to streamline bond issuance by enabling funds to be received on the same day as bidding, eliminating delays in transactions. The pilot aims to expand access to retail investors and introduce secondary trading in future phases.
India’s pilot program showcases the integration of tokenization within regulated market infrastructure, marking a significant step in financial innovation with over ₹10 billion already issued.(Source)
