India plans to issue its first tokenized bond in September, with a scale of approximately $57 million
India plans to issue its first tokenized bond in September, issued by REC, with an expected size of less than 5 billion rupees, approximately 57 million US dollars. The Indian market regulatory agency and the central bank are jointly promoting the pilot program, which adopts blockchain technology for bond issuance and settlement. The initial term of the bond is three months, and investors participate through wholesale central bank digital currency wallets and DEMT 2.0 electronic securities wallets.