India is about to carry out a test which could in the end lead to a change in the way that money and securities move through one of the world’s largest financial markets.
REC, a state-owned power finance company, is anticipated to launch India’s first tokenised corporate bonds in September by employing blockchain technology to record ownership and enabling the bonds to be bought using the Reserve Bank of India’s wholesale digital rupee. As reported by Reuters on the planned issuance, the pilot scheme will cover bonds with a value of less than ₹5 billion, or about $57 million.
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