Current outcome
India has launched the Demat 2.0 tokenized corporate bond pilot, with three issuers raising about $107 million; first-phase issuances remain ongoing, and later phases are planned to add secondary trading and retail access.
Progress timeline
2 material updates- #01
India starts tokenizing $620 billion corporate bond market with digital rupee settlement
India has begun tokenizing its $620 billion corporate bond market using digital rupee settlement, marking a major state-backed step toward blockchain-based financial market infrastructure.
Source evidence: CoinDesk
- #02
India launches tokenized bond pilot with $107M issued
SEBI and RBI formally launched the Demat 2.0 tokenized corporate bond pilot; REC, Larsen & Toubro and IIFL issued a combined 10.25 billion rupees (~$107 million) on distributed ledger infrastructure linked to wholesale CBDC settlement.
State after update: India has launched the Demat 2.0 tokenized corporate bond pilot, with three issuers raising about $107 million; first-phase issuances remain ongoing, and later phases are planned to add secondary trading and retail access.
Source evidence: Cointelegraph · The Block