India to pilot tokenized corporate bonds using wholesale CBDC in September
Source Summary
India plans to launch a pilot program in September to test tokenized corporate bonds, with state-controlled REC issuing the debt. Select investors will use wholesale CBDC payments to participate in the pilot.
Why it matters
This pilot represents India's first practical application of wholesale central bank digital currency in debt capital markets, testing the feasibility of blockchain-based bond issuance and settlement.
