State-owned REC has raised ₹500 crore through India’s first tokenised corporate bond, receiving bids worth ₹796 crore. The institutional pilot combines distributed-ledger securities records through Demat 2.0 with wholesale central-bank digital currency settlement. Financial Express — 7 September 2026

• What changed: India’s tokenised-bond programme has moved from a regulatory proposal to a completed issuance.
• Why it matters: Coordinating the security token and payment through compatible digital wallets can reduce settlement delay and counterparty risk.
• Practical takeaway: Design tokenised settlement as an idempotent state machine—Created → BidAccepted → FundsLocked → SecuritiesTransferred → Settled—with immutable audit events and compensating operations.
• Analysis: Broader adoption depends on wallet interoperability, secondary-market liquidity and clearly defined failure-recovery procedures.