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Exclusive: India plans to issue its first tokenized corporate bonds in September, to be issued by state-owned REC, worth less than $57 million, and will be settled using central bank digital currency
The move aims to test the application of blockchain technology for instant settlement in bond trading, placing India alongside markets such as Europe and Hong Kong in adopting the technology. The bond will be open to specific investors for the pilot only and will have an initial lock-in period of three months, with exchanges expected to develop a secondary market for tokenized bonds by December.
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