SEBI said later phases of Demat 2.0 will introduce secondary trading and open the tokenized bonds to retail investors.
India’s securities regulator and central bank have launched a tokenized corporate bond pilot, with three companies issuing a combined 10.25 billion rupees (about $107 million) through the new market infrastructure.&
On Thursday, the Securities and Exchange Board of India (SEBI) said Demat 2.0 allows corporate bonds to be issued and held as digital tokens on a distributed ledger owned by the country’s statutory depositories. The system connects to the Reserve Bank of India’s (RBI) wholesale central bank digital currency (CBDC) through its Unified Market Interface.&
The first issuance came from public-sector lender REC, which raised 5 billion rupees from 18 investors on Monday. Engineering conglomerate Larsen & Toubro (L&T) raised another 5 billion rupees from four investors on Wednesday, while non-bank lender IIFL issued 250 million rupees in bonds to one investor on the same day.& & & &
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