India is planning to issue its first tokenized corporate bond next month through REC, according to Techub News, citing Crypto.news. The planned deal will have a size of no more than 5 billion rupees, or about $57 million. Settlement is set to take place in digital rupee over blockchain-based infrastructure.
The report describes the issuance as a notable step in India’s effort to use its central bank digital currency, or CBDC, in capital market activity. If completed as planned, the bond would mark the country’s first corporate debt issuance in tokenized form using the digital rupee for settlement. The transaction structure links bond issuance, blockchain rails and CBDC-based payment into one pilot for the capital markets side of India’s digital currency push.
India plans to issue its first tokenized corporate bond next month through REC, according to Techub News, citing Crypto.news.
The deal is expected to be no larger than 5 billion rupees, or about $57 million. It will be settled in digital rupee through blockchain-based infrastructure.
The report said the bond issuance would mark a step for India in using its central bank digital currency, or CBDC, for capital market innovation.
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