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- Sep 11, 2026
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India enters Asiaâs tokenised bond race | IFR (opens the original)
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Three Indian issuers have tested tokenised bonds under a pilot programme as the country joins a growing number of Asian jurisdictions adopting digital financial assets. State-owned REC sold India's first tokenised bonds on Monday and it was followed on Wednesday by conglomerate Larsen & Toubro and nonbank lender IIFL Finance. REC issued a Rs5bn (US$52.3m) 20-month note at 7.30%, Larsen & Toubro raised Rs5bn from three-year notes at 7.40% and IIFL Finance sold Rs250m two-year notes at 9.10%. Only
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