The Securities and Exchange Board of India (SEBI) on September 10, 2026, issued a notification regarding the FAQs on Demat 2.0: Pilot Project for Tokenised Corporate Bonds.
The following has been stated: -
•SEBI has initiated the Demat 2.0 pilot to test the issuance, holding, trading, and settlement of corporate bonds as native digital tokens on a private, permissioned Distributed Ledger Technology (DLT) network.
•Managed by Depositories, this technology-driven transition does not alter the legal status, credit ratings, or regulatory requirements of corporate bonds.
•Investors can participate using their existing demat accounts alongside a Central Bank Digital Currency (CBDC) wallet, enabling atomic Delivery-versus-Payment (DvP) settlement to eliminate counterparty risk.
•The project will roll out across three structured stages—starting with institutional issuance, expanding to retail secondary trading, and eventually extending node access to additional market intermediaries.
