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      India Launches Tokenization Pilot for $620 Billion Corporate Bond Market, Settled with Digital Rupee

      PANews, September 11 - According to CoinDesk, the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) have launched a corporate bond tokenization pilot called "Demat 2.0," beginning to bring India's approximately $620 billion corporate bond market onto a distributed ledger and using the wholesale central bank digital currency, the Digital Rupee, for fund settlement.

      The system connects tokenized bonds with the RBI's unified market interface, enabling atomic settlement of delivery versus payment, and is expected to automatically handle interest payments and redemptions through smart contracts. REC, Larsen & Toubro (L&T), and IIFL Finance have issued tokenized bonds of 50 billion, 50 billion, and 2.5 billion Indian rupees respectively, totaling 102.5 billion Indian rupees. Regulators stated that the legal nature of the bonds, issuers' repayment obligations, and investors' rights remain unchanged, and future phases plan to further open up trading and explore participation by individual investors.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud