🔥 India Begins Tokenizing Its $620 Billion Corporate Bond Market.
The Securities and Exchange Board of India unveiled the program, dubbed Demat 2.0, last week alongside the Reserve Bank of India, with SEBI Chairman Tuhin Kanta Pandey and RBI Governor Sanjay Malhotra presenting it at the Global Fintech Fest. Under the system, a corporate bond is issued as a native digital token on a private, permissioned ledger operated by India's statutory depositories, NSDL and CDSL. Three companies have already tapped the framework, raising a combined 1,025 crore rupees, or about $107 million. State-owned lender REC went first on Sept.
7, raising 500 crore rupees from 18 investors in what it called India's first tokenized corporate bond, followed by Larsen Toubro with another 500 crore rupees and non-bank lender IIFL Finance with 25 crore rupees. The system links the token ledger to the RBI's wholesale digital rupee through a Unified Market Interface, enabling atomic settlement, where the bond and payment change hands simultaneously. That can deliver proceeds to issuers on the bidding day rather than days later, while smart contracts can automate interest payments and redemptions. Sep 7Sep 9Sep 11Sep 12Sep 14$79.7k$78.7k$77.6k$76.6k24h HighHigh$78,27824h LowLow$76,439VolVol$793.9MMarket projectionsOdds by MyriadToday$76,000 to $78,000$76k$78k64% chanceThis weekBelow $78,000Below $78k53% chance
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#TokenizationTrend #SECryptoRegulation #AICryptoIntegration
The Securities and Exchange Board of India unveiled the program, dubbed Demat 2.0, last week alongside the Reserve Bank of India, with SEBI Chairman Tuhin Kanta Pandey and RBI Governor Sanjay Malhotra presenting it at the Global Fintech Fest. Under the system, a corporate bond is issued as a native digital token on a private, permissioned ledger operated by India's statutory depositories, NSDL and CDSL. Three companies have already tapped the framework, raising a combined 1,025 crore rupees, or about $107 million. State-owned lender REC went first on Sept.
7, raising 500 crore rupees from 18 investors in what it called India's first tokenized corporate bond, followed by Larsen Toubro with another 500 crore rupees and non-bank lender IIFL Finance with 25 crore rupees. The system links the token ledger to the RBI's wholesale digital rupee through a Unified Market Interface, enabling atomic settlement, where the bond and payment change hands simultaneously. That can deliver proceeds to issuers on the bidding day rather than days later, while smart contracts can automate interest payments and redemptions. Sep 7Sep 9Sep 11Sep 12Sep 14$79.7k$78.7k$77.6k$76.6k24h HighHigh$78,27824h LowLow$76,439VolVol$793.9MMarket projectionsOdds by MyriadToday$76,000 to $78,000$76k$78k64% chanceThis weekBelow $78,000Below $78k53% chance
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#TokenizationTrend #SECryptoRegulation #AICryptoIntegration