India's state-owned power financier REC Ltd has launched a tender for tokenized corporate bonds worth up to 5 billion rupees ($53 million), combining DLT with the central bank's wholesale CBDC for institutional investors. The bonds have a base size of 1 billion rupees, with a greenshoe option to increase to 5 billion rupees, maturing in May 2028. Settlement uses SEBI's DEMAT 2.0 e-wallet and atomic settlement via wholesale CBDC, on a permissioned environment.
India’s state-owned power financier REC Ltd has put out a tender for tokenized corporate bonds worth as much as 5 billion rupees ($53 million), CryptoBriefing reported. This is a pilot. It pairs distributed ledger technology (DLT) with the central bank’s wholesale CBDC and is aimed at institutional investors.
The bonds start with a base size of 1 billion rupees, then can scale to 5 billion rupees through a greenshoe option, with maturity set for May 2028. Ownership will be logged through SEBI’s DEMAT 2.0 e-wallet, while settlement happens atomically through the wholesale CBDC. No public blockchains here. The pilot operates in a permissioned environment.
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