India’s Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI) have jointly launched the Demat 2.0 pilot for tokenised corporate bonds. The initiative uses central bank digital currency (CBDC) technology to facilitate faster settlement, while automating coupon payments and redemptions in a more secure manner. Three issuances have already been completed with support from market infrastructure institutions and banks. The pilot does not directly affect cryptocurrency prices, but its progress could influence the broader adoption of CBDCs in traditional financial markets. Traders will be watching for a possible expansion of the pilot and further regulatory updates on digital currencies.