According to CoinMeta, and as reported by Reuters, India plans to launch its first tokenized corporate bond pilot in September, issued by the state-owned power finance institution REC. The scale of the issuance is less than 5 billion rupees (about 57 million US dollars). Investors will participate through wholesale CBDC wallets provided by banks and the new type of securities wallet Demat 2.0. The bond issuance, holding, and settlement records will be conducted on a distributed ledger. Initially, it will be open only to certain investors, with a three-month lock-up period. A secondary market is expected to be launched as soon as December. The Reserve Bank of India and the securities regulatory agency are jointly advancing this project.