India Launches Demat 2.0 Pilot for Tokenized Bonds via Digital Rupee

Key Facts

1Three issuers successfully raised over $100 million through tokenized corporate bonds in SEBI's Demat 2.0 pilot.

2The transactions were settled using India's wholesale Central Bank Digital Currency (CBDC).

In a move reflecting the accelerating adoption of blockchain technology in major financial markets, India's market regulator SEBI has launched the Demat 2.0 pilot project. According to reports, three issuers successfully raised over $100 million through the issuance of tokenized corporate bonds. The initiative aims to modernize debt markets by integrating digital technology for more efficient bond settlement and comprehensive lifecycle management.

The transactions were settled using India's wholesale Central Bank Digital Currency (CBDC), marking a significant milestone in the institutional utility of sovereign digital currencies. This development follows efforts by regulators, including SEBI and the Reserve Bank of India, to enhance financial market infrastructure through the tokenization of Real World Assets (RWA).

Looking ahead, traders are monitoring the potential expansion of this pilot to include a broader base of issuers and investors in India. While specific instrument price data is currently unavailable, market focus remains on global catalysts; recent data showed the US unemployment rate holding at 4.1% with 162k Non-Farm Payrolls added in September 2026, which may influence global risk appetite for digital asset infrastructure.