business πͺ Does blockchain actually need to be used for bonds?
SEBI is testing tokenised corporate bonds under its Demat 2.0 pilot to see if they fix issues in India's debt markets. REC, L&T, and IIFL Finance have already raised over βΉ1,000 crore using these bonds. These bonds use a 'permissioned distributed ledger' and RBI's eRupee (eβΉ) infrastructure. This technology aims to automate payouts via smart contracts and reduce reconciliation costs. It also solves counterparty risk by ensuring simultaneous fund and security transfers. π