#CBDC

42 articles tagged #CBDC — curated RWA tokenization coverage.

#India #CorporateBonds #SEBI #Tokenization #TokenizedBonds #Demat2.0 #DLT #RBI #BankOfKorea #REC

RBI, Sebi launch India’s first tokenised corporate bond pilot

The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have officially launched India’s first pilot program for tokenized corporate bonds. Unveiled at the Global Fintech Fest 2026 by RBI Governor Sanjay Malhotra and SEBI Chairman Tuhin Kanta Pandey, the initiative integrates Central Bank Digital Currency (CBDC) with blockchain technology to streamline securities settlement. This pilot represents a strategic shift toward modernizing India's financial infrastructure by replacing traditional settlement processes with programmable digital assets. While the initial focus is restricted to corporate bonds, the framework is designed to be scalable, with plans to eventually incorporate equities, mutual funds, and electronic gold receipts. The project underscores the Indian government's commitment to leveraging public-private partnerships to enhance financial inclusion and efficiency. By utilizing CBDC for settlement, the regulators aim to reduce friction and increase transparency in the domestic capital markets. This development signals a major institutional endorsement of blockchain technology as a foundational layer for the future of Indian financial services.

#TokenizedBonds #CBDC #RBI

telanganatoday.com·Sep 10, 20269.0

Infrastructure

RBI’s Vasudevan flags legal, privacy, interoperability risks in tokenization

Reserve Bank of India (RBI) Executive Director P. Vasudevan highlighted critical challenges for the nation's tokenization roadmap, including legal uncertainty, data privacy, and the necessity for platform interoperability. Speaking at the Global Fintech Fest 2026, Vasudevan emphasized that while tokenization offers faster transactions and increased leverage, it introduces potential risks to financial stability that require careful regulatory oversight. The RBI has already successfully tested tokenization through its Unified Markets Interface, processing approximately ₹17,000 crore in certificate-of-deposit transactions. Recent milestones include pilot corporate bond issuances by REC and Larsen & Toubro, each raising ₹500 crore using a blockchain-based 'DEMAT 2.0' system. These pilots utilize the RBI’s wholesale central bank digital currency for settlement, aiming to reduce risks and automate the bond lifecycle. Vasudevan noted that existing market intermediaries like depositories and custodians must evolve into token service providers to support this transition. Ultimately, the RBI remains optimistic about expanding tokenization to diverse asset classes while maintaining a cautious approach to systemic stability.

#TokenizedBonds #CBDC #RBI

livemint.com·Sep 9, 20268.5

Infrastructure

L&T Becomes India’s First Private Sector Corporate to Issue Tokenised Bond

Larsen & Toubro (L&T) has officially become the first private sector corporation in India to issue tokenized bonds, raising ₹500 crore with a 3-year tenure. This issuance was conducted under the Securities and Exchange Board of India’s (SEBI) newly established blockchain-based tokenization framework. The transaction utilizes Distributed Ledger Technology (DLT) to manage the bond lifecycle, aiming to enhance transparency and operational efficiency within the Indian corporate debt market. A critical component of this milestone is the integration of the tokenized securities with Central Bank Digital Currency (CBDC) for settlement, ensuring a seamless digital transaction flow. By adopting this technology, L&T is modernizing its treasury operations and setting a precedent for digital capital-market infrastructure in the region. This development is significant as it signals a shift toward regulatory-backed blockchain adoption in one of the world's largest emerging economies. The move highlights how institutional players are leveraging DLT to reduce friction in traditional finance, potentially paving the way for broader liquidity and participation in Indian corporate debt.

#CorporateBonds #DLT #CBDC

larsentoubro.com·Sep 9, 20268.5

Infrastructure

REC issues India's 1st tokenized bond via RBI digital currency

REC Ltd. has successfully executed India's inaugural tokenized bond issuance, raising ₹5 billion, equivalent to approximately $52.9 million. The transaction involved major financial institutions including HDFC Bank and ICICI Bank, marking a significant milestone for the nation's debt capital markets. Notably, the settlement was conducted entirely using the Reserve Bank of India's (RBI) Central Bank Digital Currency (CBDC), demonstrating the practical integration of sovereign digital money with blockchain-based securities. This development highlights a shift toward increased transparency and operational efficiency in debt trading by leveraging distributed ledger technology. Industry experts, such as Taurus Group's Amar Gandhi, emphasize that the synergy between digital currency and blockchain infrastructure significantly accelerates settlement cycles. The successful pilot is expected to catalyze further adoption, with companies like Larsen & Toubro already preparing similar tokenized bond offerings. This event signals a broader institutional trend toward digitizing traditional financial instruments within the Indian regulatory framework.

#Blockchain #TokenizedBonds #CBDC

newsbytesapp.com·Sep 7, 20267.5

Infrastructure

L&T plans to raise up to ₹500 crore via tokenized bonds after REC's success, marking new era for debt markets

Rural Electrification Corporation Ltd (REC) has successfully raised ₹500 crore through India's first-ever tokenized corporate bond issuance, signaling a significant shift in the nation's debt market infrastructure. The bonds, which mature on May 31, 2028, were issued with a 7.30% coupon rate, utilizing a blockchain-based platform developed under the guidance of the Reserve Bank of India and the Securities and Exchange Board of India. Following this milestone, Larsen & Toubro Ltd is preparing to launch its own tokenized bond issue this week, aiming to raise up to ₹500 crore at an expected 7.40% coupon. This initiative leverages the RBI’s wholesale central bank digital currency (CBDC) for payments and a "DEMAT 2.0" blockchain wallet for secure asset holding. By moving away from traditional settlement systems, these tokenized instruments aim to enable near-instant settlement and enhanced transparency for market participants. The adoption of this technology is expected to reduce settlement risks and potentially allow for fractional ownership, which could broaden investor participation in corporate debt. While the pilot project marks a major technological advancement, market participants emphasize that scaling the ecosystem will require further development of secondary market liquidity and supporting infrastructure.

#Blockchain #TokenizedBonds #CBDC

livemint.com·Sep 7, 20268.5

U.S. Treasuries

Tokenisation of corporate bonds: A new chapter for India’s debt market

India is set to launch its inaugural tokenized corporate bond issuance in September 2026, featuring state-owned power financier REC Ltd. as the primary issuer. The pilot project will utilize Distributed Ledger Technology (DLT) alongside the Reserve Bank of India’s wholesale Central Bank Digital Currency (CBDC) to facilitate transaction settlement. SEBI Chairperson Tuhin Kanta Pandey highlighted that this initiative aims to test DLT for faster settlement, improved traceability, and automated servicing within the corporate bond market. By integrating securities and payment legs onto an interoperable digital infrastructure, the project seeks to reduce settlement risk and operational reconciliation burdens. While India already maintains a mature dematerialized securities system, this shift represents a transition toward a more programmable and integrated financial architecture. The pilot will also serve as a critical test case for addressing complex legal questions regarding the finality of DLT-based ownership records. Ultimately, this move signifies a strategic evolution in India's financial market infrastructure, potentially enhancing liquidity and retail accessibility for debt instruments.

#CorporateBonds #DLT #CBDC

barandbench.com·Sep 5, 20268.0

U.S. Treasuries

Sebi's Demat 2.0 to debut next week with REC's tokenised bond pilot

The Securities and Exchange Board of India (SEBI) is preparing to launch its Demat 2.0 initiative next week, marking a significant shift in the country's financial market infrastructure. This debut will feature a pilot program involving REC Limited, which is set to issue India's first tokenised bond. The transaction will utilize the Reserve Bank of India's Central Bank Digital Currency (CBDC) for settlement, aiming to streamline the issuance and trading process. By integrating blockchain-based tokenisation with digital currency, the initiative seeks to reduce settlement cycles and enhance transparency in debt markets. This move represents a major regulatory endorsement of distributed ledger technology within the Indian capital markets. The successful execution of this pilot could pave the way for broader adoption of tokenised securities across the nation. Such developments are critical for the RWA market as they demonstrate how sovereign regulators and state-owned enterprises are actively modernizing traditional financial instruments through blockchain integration.

#TokenisedBonds #CBDC #India

business-standard.com·Sep 3, 20268.5

Infrastructure

Australia’s Central Bank Maps Out Tokenized Settlement

The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) have concluded a comprehensive research project exploring the potential of a central bank digital currency (CBDC) for tokenized asset settlement. The study focused on how a wholesale CBDC could facilitate atomic settlement for tokenized assets, effectively reducing counterparty risk and increasing operational efficiency within the Australian financial system. By testing various use cases, including the settlement of tokenized carbon credits and private debt, the RBA demonstrated that programmable money could streamline complex transactions. This initiative highlights a significant shift toward institutional adoption of distributed ledger technology (DLT) for national financial infrastructure. The findings suggest that while technical and regulatory hurdles remain, the integration of tokenized assets with central bank money is a viable path forward for modernizing market settlements. This research provides a foundational framework for future policy decisions regarding the digitization of the Australian dollar. Ultimately, the project underscores the growing global trend of central banks actively experimenting with blockchain-based settlement layers to enhance liquidity and transparency in RWA markets.

#Tokenization #Settlement #CBDC

finimize.com·Sep 3, 20268.5

Non-U.S. Govt. Debt

India plans first tokenised bond issue in September, sources say

India is set to launch its first tokenized corporate bonds next month, marking a significant step in integrating blockchain technology into the nation's financial infrastructure. State-owned power financier REC will issue these bonds, valued at less than 5 billion rupees ($57 million), to test instant settlement capabilities. The initiative involves a collaboration between India’s central bank and market regulators to modernize issuance and trading processes. Investors will utilize the country's central bank digital currency (CBDC) to purchase the tokens, requiring both a wholesale digital currency wallet and a new electronic securities wallet known as DEMAT 2.0. This pilot program restricts participation to a select group of investors, with a secondary market expected to emerge by December. By adopting distributed ledger technology, India aims to align its capital markets with global leaders like Europe and Hong Kong. This development underscores the growing institutional shift toward blockchain-based settlement to enhance efficiency and reduce transaction times in debt markets.

#Blockchain #CorporateBonds #CBDC

newsofbahrain.com·Aug 31, 20268.5

Non-U.S. Govt. Debt

India’s First Tokenized Bond Issue: How RBI’s Wholesale CBDC Powers DEMAT 2.0

India is set to launch its inaugural tokenized corporate bond pilot in September 2026, featuring state-owned REC as the issuer. The initiative aims to raise less than ₹500 crore while utilizing the Reserve Bank of India's wholesale central bank digital currency, e₹-W, for settlement. Participants will be required to utilize the newly developed DEMAT 2.0 securities wallets to manage their holdings. By anchoring the issuance within regulated infrastructure, the pilot explicitly excludes public blockchain assets such as Bitcoin, Ethereum, and USDT. This strategic move demonstrates a government-led approach to modernizing securities recordkeeping through distributed ledger technology. The integration of CBDC-powered settlement with tokenized bonds represents a significant shift toward institutionalizing blockchain-based financial instruments in India. This development highlights the potential for sovereign-backed digital assets to streamline bond market operations while maintaining strict regulatory oversight.

#TokenizedBonds #CBDC #RBI

cryptorank.io·Aug 27, 20268.5

U.S. Treasuries

India’s Bond Market Tries Tokenization With A CBDC Pilot

The Reserve Bank of India (RBI) has launched a pilot program for the wholesale segment of the government securities market using its Central Bank Digital Currency (CBDC), the digital rupee. This initiative aims to streamline the settlement process for secondary market transactions in government bonds, moving away from traditional T+1 settlement cycles toward near-instantaneous settlement. By utilizing blockchain technology, the RBI seeks to reduce operational costs and mitigate counterparty risks inherent in the current clearinghouse-dependent infrastructure. Major financial institutions, including State Bank of India, Bank of Baroda, and HDFC Bank, are participating in this trial to test the efficiency of digital ledger technology in high-value debt markets. This move represents a significant step for India's financial infrastructure, signaling a shift toward programmable money for institutional asset management. The successful integration of CBDCs into bond trading could serve as a blueprint for other emerging markets looking to modernize their debt capital markets. Ultimately, this pilot underscores the growing global trend of central banks exploring tokenization to enhance liquidity and transparency in sovereign debt markets.

#Tokenization #CBDC #RBI

finimize.com·Aug 24, 20268.0

Non-U.S. Govt. Debt

Exclusive-India plans first tokenised bond issue in September, sources say

India is set to launch its first tokenized corporate bonds next month, marking a significant step in integrating blockchain technology into the nation's financial infrastructure. State-owned power financier REC will lead the pilot issuance, offering bonds valued at less than 5 billion rupees, or approximately $57 million. This initiative, supported by the Reserve Bank of India and market regulators, aims to enable near-instant settlement of bond transactions. Investors will utilize a wholesale central bank digital currency (CBDC) wallet alongside a new electronic securities wallet, known as DEMAT 2.0, to manage holdings on a distributed ledger. The pilot will initially be restricted to a select group of investors, with a three-month lock-in period for the securities. By bypassing traditional electronic book provider platforms, the project seeks to modernize the issuance and trading lifecycle. This move aligns India with global markets like Hong Kong and Europe that are actively exploring blockchain-based securities. A secondary market for these tokenized assets is expected to be developed by December.

#CorporateBonds #DLT #CBDC

finance.yahoo.com·Aug 24, 20268.5

Infrastructure

RWA Tokenization and CBDCs: What to Expect Next

The intersection of Real-World Asset (RWA) tokenization and Central Bank Digital Currencies (CBDCs) is becoming a critical focus for financial infrastructure, particularly regarding settlement efficiency. As of December 2024, the tokenized RWA market, excluding stablecoins, reached approximately $15 billion, marking an 85% year-over-year increase. Tokenized Treasury bills currently lead this growth due to their ease of pricing, custody, and liquidity, while private credit and real estate face slower adoption due to complex servicing requirements. Central banks are increasingly exploring wholesale CBDCs to serve as the cash leg for delivery-versus-payment (DvP) workflows, aiming to reduce settlement risk and improve collateral mobility. While retail CBDCs face significant hurdles regarding privacy and public trust, wholesale versions are gaining traction in advanced economies for interbank settlement. The market is evolving toward a multi-asset environment where stablecoins, tokenized bank deposits, and wholesale CBDCs coexist to meet diverse institutional needs. Ultimately, the success of these systems depends on integrating robust identity verification, regulatory compliance, and clear error-handling protocols within permissioned or controlled blockchain environments.

#Stablecoins #RWA #Tokenization

blockchain-council.org·Aug 18, 20267.5

Non-U.S. Govt. Debt

India's SEBI Confirms Its Corporate Bond Tokenization Pilot Is Actually Moving

The Securities and Exchange Board of India (SEBI) has confirmed in its annual report that a pilot program to tokenize India's ₹59 lakh crore corporate bond market is actively proceeding. This initiative aims to leverage distributed ledger technology to enhance settlement speeds, introduce smart-contract-based programmability, and integrate directly with the Reserve Bank of India's wholesale central bank digital currency (CBDC). By building upon existing blockchain-based monitoring systems already utilized by depositories NSDL and CDSL, SEBI intends to automate debt servicing and settlement processes. The project seeks to address the structural thinness of the secondary bond market, where institutional investors typically hold assets to maturity. SEBI chairman Tuhin Kanta Pandey has framed the pilot as an exploratory efficiency test, with a projected implementation timeline of six to nine months. This development is significant because it advances within established securities regulations, effectively bypassing the ongoing legislative uncertainty surrounding broader cryptocurrency policy in India. By focusing on institutional infrastructure rather than retail crypto, the initiative positions India as a serious participant in the global movement toward tokenized government and corporate debt.

#CorporateBonds #DLT #CBDC

blockhead.co·Aug 11, 20268.5

U.S. Treasuries

India’s SEBI plans tokenization, DLT pilots for corporate bonds

The Securities and Exchange Board of India (SEBI) has officially confirmed plans to launch a pilot program for tokenizing corporate bonds using distributed ledger technology. As outlined in its annual report, the regulator aims to leverage blockchain to achieve faster settlement, improved operational efficiencies, and enhanced programmability via smart contracts. The initiative also seeks to explore integration with India's central bank digital currency (CBDC) for settlement mechanisms. SEBI Chairman Tuhin Kanta Pandey indicated that the trial will operate on a limited scale over a six to nine-month period. This move is intended to address fragmentation within the Indian corporate bond market, which has historically lagged behind sovereign and financial institution issuances in the digital space. While global precedents like Siemens' €360 million issuance and POSCO International's $100 million bond demonstrate the potential for corporate blockchain adoption, India's pilot will build upon existing infrastructure like the CBDC and Asset Tokenisation (CAT) Sandbox. By testing these technologies, SEBI aims to modernize debt market infrastructure and align with broader digital financial trends.

#CorporateBonds #DLT #CBDC

ledgerinsights.com·Aug 7, 20267.5

U.S. Treasuries

BOK Creates Asset Tokenization Unit to Prepare Pilot for Tokenized Government Bonds

The Bank of Korea (BOK) has established a dedicated Asset Tokenization Team within its Digital Currency Office to spearhead the pilot program for tokenized government bonds. This organizational shift follows the bank's ongoing efforts under Project Hangang, which previously focused on deposit tokens and central bank money. The new team is tasked with developing a Unified Ledger framework designed to integrate deposit tokens, central bank money, and asset tokens into a single, cohesive platform. By consolidating these digital assets, the BOK aims to streamline the processes of remittance, clearing, and settlement into one efficient workflow. This initiative marks a significant expansion of the central bank's digital infrastructure strategy, moving beyond experimental deposit tokens toward the broader issuance of real-world assets. The move underscores the growing institutional interest in leveraging blockchain technology to modernize national financial systems. As the BOK integrates these assets, it positions itself at the forefront of central bank-led RWA adoption, potentially setting a global standard for sovereign digital bond management.

#RWA #CBDC #BankOfKorea

en.bloomingbit.io·Aug 5, 20268.5

Infrastructure

Cecabank, Crédit Mutuel join Regulated Layer One tokenization platform as it launches

The Regulated Layer One (RL1) blockchain cooperative has officially launched in Luxembourg, marking a significant step toward a neutral European network for tokenized asset settlement. SWIAT has transferred its DLT platform to the new organization while remaining the primary technical partner. The initiative now includes ten founding members, with the recent addition of Spanish wholesale bank Cecabank and the French cooperative Crédit Mutuel. This launch coincides with the Eurosystem’s Project Pontes, which facilitates on-chain settlement using central bank money and wholesale CBDCs. The membership roster features major institutions such as ABN Amro, DekaBank, DZ Bank, LBBW, Natixis CIB, SC Ventures, and Boerse Stuttgart’s Seturion. While L-BANK and KfW have transitioned to supporter roles, the network aims to provide a robust infrastructure for the evolving European digital asset market. By establishing this collaborative framework, RL1 seeks to standardize the issuance and settlement of tokenized financial instruments across the continent.

#Tokenization #DLT #CBDC

ledgerinsights.com·Jul 28, 20268.5

Infrastructure

Why India Should Treat tokenization as Financial Infrastructure Reform

India is evaluating tokenization not merely as a fintech trend but as a fundamental structural redesign of its financial market infrastructure. The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are actively testing blockchain-based applications, including pilots for tokenized Certificates of Deposit using wholesale CBDC and explorations into corporate bond tokenization. By leveraging its existing Digital Public Infrastructure (DPI) framework—such as UPI and Aadhaar—India aims to modernize core systems like sovereign debt and trade finance. The IMF emphasizes that this transition requires a robust legal framework to ensure settlement finality, governance, and interoperability. A central challenge for Indian policymakers is balancing private sector innovation with the need for public trust anchors and systemic oversight. To avoid fragmented liquidity, India must align its domestic ledger systems with emerging global standards for cross-border tokenized finance. Ultimately, the country's success depends on integrating these new technologies into the national financial architecture while maintaining monetary sovereignty.

#Tokenization #FinancialInfrastructure #CBDC

policyedge.in·Jul 25, 20267.5

#CBDC

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