SEBI Launches Demat 2.0 Pilot for Tokenised Corporate Bonds
· Business · Economic Times, Moneycontrol, Indian Express
The Securities and Exchange Board of India has launched Demat 2.0, a pilot project for tokenised corporate bonds utilizing distributed ledger technology and wholesale e-rupee settlement. The initiative was jointly announced by Reserve Bank of India Governor Sanjay Malhotra and SEBI Chairman Tuhin Kanta Pandey at the Global Fintech Fest in Mumbai. During the initial phase, entities including REC, Larsen & Toubro, and IIFL successfully raised ₹1,025 crore through the platform. The system connects the bond market with the central bank's wholesale central bank digital currency via the Unified Market Interface to enable atomic settlement, where bond and cash transfers occur simultaneously. Future phases of the pilot will expand functionalities to include secondary market trading and retail investor access across India.
Why it matters
The integration of distributed ledger technology with the RBI's digital currency eliminates settlement risk and automates asset servicing in India's corporate bond market.
Read the original report — Economic Times
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