Current outcome
India's SEBI/RBI "Demat 2.0" pilot is operational, with three issuers raising about $107 million in tokenized corporate bonds on the NSDL/CDSL permissioned ledger, atomic settlement via the wholesale digital rupee, and later phases planned for secondary trading and retail access.
Progress timeline
2 material updates- #01
India Launches Pilot for Tokenized Corporate Bonds via REC
Source evidence: crowdfundinsider.com
- #02
India Begins Tokenizing Its $620 Billion Corporate Bond Market
Disclosed the pilot name "Demat 2.0"; three issuers—REC, Larsen & Toubro and IIFL Finance—raised a combined 1,025 crore rupees (~$107 million), with REC first on Sept. 7 raising 500 crore rupees. The system links to the RBI's wholesale digital rupee via a Unified Market Interface for atomic settlement; later phases will add secondary trading and retail access.
State after update: India's SEBI/RBI "Demat 2.0" pilot is operational, with three issuers raising about $107 million in tokenized corporate bonds on the NSDL/CDSL permissioned ledger, atomic settlement via the wholesale digital rupee, and later phases planned for secondary trading and retail access.
Source evidence: Decrypt