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India to launch first tokenized corporate bonds using digital rupee
India is preparing to launch its first pilot for tokenized corporate bonds in September. The initiative, expected to be led by the state-owned power financier REC, aims to issue bonds valued at less than 5 billion rupees (approximately $57 million).
The pilot program is a joint effort between the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). It will utilize blockchain-based infrastructure and the digital rupee (CBDC) to handle everything from issuance to settlement, potentially enabling real-time transactions.
Participants in the pilot will be restricted to a select group of investors and will require two types of digital accounts: a wholesale CBDC wallet provided by a bank and a specialized securities wallet known as DEMAT 2.0. The bonds will include a three-month mandatory holding period, with plans to establish a secondary trading market by December.
Entities
India · Mumbai · REC · Reserve Bank of India · Securities and Exchange Board of India
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The bonds will feature an initial three-month mandatory holding period. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] The pilot will use the digital rupee (CBDC) for settlement on blockchain-based infrastructure. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] Investors will require both a wholesale CBDC wallet and a DEMAT 2.0 securities wallet. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] The bond issuance is expected to be worth less than 5 billion rupees (approximately $57 million). blockchainseoul.kr · crypto.news
- [● 3 SOURCES] India plans to launch its first tokenized corporate bonds in September. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] Indian exchanges aim to establish a secondary market for tokenized bonds by December. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] REC, a state-owned power financier, is expected to be the first issuer. blockchainseoul.kr · crypto.news
- [● 3 SOURCES] The pilot is being jointly developed by the Reserve Bank of India and SEBI. blockchainseoul.kr · crypto.news