Altcoins News
By Bruce Buterin
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How Atomic Settlement Actually Works Here. The mechanics matter. A lot.
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What SEBI Plans to Do Next. The pilot is still running. Issuances are ongoing under the pilot phase, and SEBI hasn't announced…
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India just did something no other country has pulled off. The Securities and Exchange Board of India ran a tokenized corporate bond pilot that raised Rs 10.
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Three issuers anchored the pilot. REC, a public-sector lender, raised Rs 5 billion from 18 investors.
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Under the old system, bond settlement takes two to three days after bidding closes. Funds move separately from the bonds, creating a gap where counterparty risk lives.
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Smart contracts handle what used to require manual back-office work. Interest payments, redemption at maturity — both automated. That's not just faster.
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Investors don't need to open new accounts or redo their Know-Your-Customer checks to participate.
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The pilot is still running. Issuances are ongoing under the pilot phase, and SEBI hasn't announced a hard end date — or at least the regulator hasn't made one public yet.
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See also: Jensen Huang Critiques Cybersecurity Hype as Crypto Attacks Surge 50%
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But the roadmap is clear enough. Secondary trading is next. SEBI wants to introduce it through existing platforms, which would let investors buy and sell tokenized bonds after…
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Retail investors are also on the list. SEBI said access will broaden based on what the pilot shows.
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The broader significance here is the integration piece. India is apparently the first country to issue bonds on distributed ledger technology while keeping ownership records with…
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That design choice has tradeoffs. It's slower to build, harder to coordinate, requires buy-in from the central bank and existing market infrastructure players.
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See also: XRP Healthcare Shuts Down After $450,000 Wallet Breach Drains Funds
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Cash flow timing is another underrated benefit for issuers. Getting funds on the day of bidding rather than two to three days later is genuinely useful for treasury management,…
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