REC issues India's 1st tokenized bond via RBI digital currency

Business Sep 07, 2026

India just saw its first-ever tokenized bond, with REC Ltd. raising ₹5 billion ($52.9 million).

Big banks like HDFC and ICICI joined in, and the whole deal was settled using RBI's digital currency.

The bonds run till May 2028 and offer a 7.3% interest rate.

Tokenized bonds may speed trading

Tokenized bonds use blockchain tech, which could make buying and selling debt way more transparent and efficient.

Amar Gandhi, founder and managing director at Taurus Group, put it simply: combining digital currency with blockchain can really speed things up.

With Larsen & Toubro planning a similar bond this week, it looks like more companies might be jumping on this trend soon.