India’s capital markets regulator, Securities and Exchange Board of India, is moving deeper into blockchain and Web3 infrastructure with plans to launch a pilot project for tokenization of corporate bonds using Distributed Ledger Technology (DLT).
SEBI Chairman Tuhin Kanta Pandey said the rollout could take six to nine months and will initially be tested on a limited scale. The pilot aims to improve liquidity, enable near instant settlements, enhance transparency, automate servicing, and boost traceability in India’s corporate debt market.
Tokenization refers to the conversion of real-world financial assets into digital tokens recorded on distributed ledger technology (DLT) systems such as blockchain networks, which allow multiple participants to record and synchronize data without a central authority.
The initiative comes as India’s corporate debt fundraising nears ₹9 lakh crore, with SEBI also exploring bond ETFs, debt derivatives, and relaxed disclosure norms for debt listed firms to deepen the bond ecosystem.
Tokenization would convert traditional corporate bonds into blockchain based digital tokens, allowing faster and cheaper trading infrastructure. SEBI is also evaluating cybersecurity and future quantum technology risks before broader adoption.
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