Autor Cointelegraph By Helen Partz

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India reportedly plans to launch its first tokenized corporate bonds in September as part of a pilot involving blockchain-based transactions settled using a central bank digital currency (CBDC).REC Limited, a state-controlled Indian power infrastructure finance company, plans to issue less than 5 billion Indian rupees ($57 million) in tokenized bonds, Reuters reported on Monday, citing three sources with direct knowledge of the plans. The pilot will initially be open only to a select group of investors and could be unveiled at an annual financial technology event in Mumbai in September.“India’s central bank digital currency will be used to buy the tokenized bonds,” Reuters reported, citing one of the sources. Investors will need two digital accounts to participate: a wholesale CBDC wallet provided by a bank and a new electronic securities wallet.Indian securities depositories are developing the new wallet, called DEMAT 2.0, which will record bond holdings using distributed ledger technology. The Reserve Bank of India (RBI), the country’s central bank, and the Securities and Exchange Board of India (SEBI), its markets regulator, are working together on the initiative, according to Reuters.The bonds will have an initial three-month lockup period and exchanges are expected to develop a secondary market for the tokenized bonds by December.Cointelegraph contacted the RBI, SEBI and REC for comment on the reported plans but had not received responses at the time of publication.Related: StanChart, HSBC execute first live transaction on Swift blockchain ledgerCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Thailand’s Securities and Exchange Commission (SEC) has advanced its framework for locally listed spot Bitcoin and Ether exchange-traded funds (ETFs) from proposed principles to draft regulations while revising its approach to foreign digital asset custodians.The regulator said Monday it is seeking feedback on two consultation papers. One contains draft regulations for Thai crypto ETFs, while the other proposes principles governing the qualifications of foreign digital asset custodians engaged by mutual and private funds investing in digital assets.During the initial stage, asset managers could establish passive ETFs tracking Bitcoin (BTC) or Ether (ETH), the only two eligible crypto assets.The draft regulations follow an April consultation on the framework’s broader principles. The SEC said most respondents supported the framework but provided feedback on custody arrangements, prompting the regulator to revise its proposed approach.The framework forms part of Thailand’s ambition to become a global digital asset hub for institutions.Bitcoin and Ether ETFs would trade on Thai stock exchangeUnder the proposed rules, Bitcoin and Ether ETFs would trade exclusively on the Stock Exchange of Thailand (SET). Each ETF would track a single crypto asset and would need to maintain average net exposure of at least 80% of its net asset value to that asset over each accounting year.Related: Bitcoin ETF inflows hit $1.9B in strongest week since October 2025The proposed rules would also allow mutual funds and private funds to invest in Thai-domiciled crypto ETFs, alongside foreign crypto ETFs in which they are already permitted to invest, subject to existing investment limits.During the initial phase, however, the regulator would not allow alternative products tied to foreign crypto ETFs, including depositary receipts tracking them.Thailand revises crypto custody proposalThe revised approach would retain onshore digital asset custodians as the primary providers for crypto ETFs during the initial phase. “Under the revised approach, crypto ETFs will continue to be primarily required to use onshore DA [digital asset] custodians, while the SEC may permit the use of qualified foreign DA custodians when necessary and appropriate in light of prevailing circumstances,” the SEC said.Under the separate custodian proposal, foreign providers serving mutual and private funds investing in digital assets would need to be supervised by a regulatory authority with legal powers. They would also have to operate under regulatory and investor asset protection standards that the Thai SEC considers adequate.The SEC will accept public comments on both consultation papers until Sept. 20.Magazine: Korean bank taps Ripple for payments, Pakistan opens crypto licensing: Asia Express

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.