India Launches Digital Rupee Settlement for Tokenized Corporate Bonds
Source Summary
India's securities regulator SEBI has begun a pilot program called Demat 2.0 that converts corporate bonds into digital tokens and settles transactions using the Reserve Bank of India's wholesale digital rupee. The pilot covers India's $620 billion corporate bond market. Secondary trading and retail investor access are planned for later phases.
Why it matters
This pilot demonstrates India's central bank and regulator implementing blockchain-based settlement infrastructure for a major asset class, potentially improving transaction efficiency and reducing settlement risk in the corporate bond market.
