India prepares first test of tokenized bond trading next month: Reuters

India is preparing to issue its first tokenized corporate bonds next month as part of a test of blockchain-based bond trading, Reuters reported, citing three sources familiar with the matter. The sources said the first bonds are expected to be issued by REC, a state-owned power financing company, and India’s central bank digital currency is likely to be used as the settlement instrument. During the pilot phase, the product will be offered only to a limited group of investors, while details on the issuing entity, schedule and framework have not been disclosed.