State-run REC Ltd. issues India’s first tokenized bond, and major banks including HDFC Bank Ltd. and ICICI Bank Ltd. are reported to be among the buyers, according to people cited by financial media. The purchase interest signals growing willingness to use tokenized instruments in India’s debt markets.
Reports also list additional participants. NDTV says private lenders Axis Bank Ltd. and Yes Bank Ltd. are included among buyers, alongside other subscribers such as AK Capital Services Ltd., ICICI Securities Primary Dealership Ltd., Taurus Group, and Trust Investment Advisors Pvt. Ltd. Bloomberg frames the development as part of efforts that could help deepen liquidity in the broader debt market, while both accounts focus on identifying the parties involved in the transaction.
While the outlets differ on how they describe the market implications and which institutions are mentioned, they agree the tokenized bond is REC’s first in India and that multiple large lenders subscribe to the offering.
