By Khushi Malhotra
MUMBAI, Aug 24 (Reuters) - India will launch tokenised corporate bonds next month, as it tests the use of blockchain technology to enable instant settlement of bond transactions, three sources with direct knowledge of the matter said on Monday.
The notes, to be issued for the first time by state-owned power financier REC, would place India alongside markets such as Europe and Hong Kong in using the technology for issuance and settlement.
Tokenised bonds are securities whose ownership, issuance, trading and settlement are recorded digitally on a blockchain or distributed ledger, allowing transactions to be completed almost instantly.
India's markets regulator and central bank are working together on pushing the technology, according to the sources, who spoke on the condition of anonymity as the discussions are ongoing and confidential.
#tokenised
MUMBAI, Aug 24 (Reuters) - India will launch tokenised corporate bonds next month, as it tests the use of blockchain technology to enable instant settlement of bond transactions, three sources with direct knowledge of the matter said on Monday.
The notes, to be issued for the first time by state-owned power financier REC, would place India alongside markets such as Europe and Hong Kong in using the technology for issuance and settlement.
Tokenised bonds are securities whose ownership, issuance, trading and settlement are recorded digitally on a blockchain or distributed ledger, allowing transactions to be completed almost instantly.
India's markets regulator and central bank are working together on pushing the technology, according to the sources, who spoke on the condition of anonymity as the discussions are ongoing and confidential.
#tokenised
11 days ago
