SEBI and RBI just dropped this pilot for issuing holding trading and settling corporate bonds as digital tokens. It’s Demat 2.0 integrated straight into India’s regulated securities market instead of some random standalone blockchain fr.
116M In Tokenized Bonds Already Poppin 💀
India’s setup lets corporate bonds get created natively on a distributed ledger run by market infrastructure institutions with ownership records at the statutory depositories. As written on the Demat 2.0 page the system links to RBI’s wholesale digital rupee via its Unified Market Interface for atomic settlement on both securities and cash legs at once 🖤.
This atomic delivery-versus-payment skips the old waiting period when one side transfers while the other finishes payment lmao. Three companies already issued tokenized bonds totaling 1025 crore or 116 million 📈. REC Limited kicked it off first on September 7 with 500 crore from 18 investors then Larsen & Toubro matched that from four investors while IIFL grabbed 25 crore from one on September 9 🌑.
SEBI noted issuers get funds same day as bidding versus the usual two to three days and secondary market folks receive proceeds instantly too 🦇. Smart contracts automate coupon and redemption payments right into CBDC wallets and investors stick with existing demat accounts without new blockchain wallets kinda perfect for DeFi vibes ✨.
More Than Just Bonds On The Horizon 😈
Tokenized bonds stay legally identical to regular ones so credit ratings disclosures debenture trustees and investor protection rules still apply all the way. With RWA growth exploding authorities outlined a three stage rollout starting with institutional corporate bond issuance then secondary trading plus retail access and finally more entities plus other instruments on the network 🪙.
The whole thing stays private and permissioned with nodes from depositories and exchanges because this combines DLT smart contracts and central bank money inside the existing system not jumping to public chains tho 🔮.
Just another echo from the void by iconofsin.eth 💖
