According to CoinMeta, the Securities and Exchange Board of India (SEBI) has launched the SEBI 2.0 pilot, which utilizes blockchain technology to issue and settle tokenized corporate bonds in wholesale format using the Digital Rupee issued by the Reserve Bank of India (RBI). The state-owned power financing institution REC issued bonds worth 5 billion Indian rupees (about 56 million US dollars) this month through this system, followed by Larsen and Toubro issuing bonds of the same scale. Non-bank financial institutions IIFL Finance issued bonds worth 250 million Indian rupees (about 2.8 million US dollars). The bonds continue to feature fixed interest rates, maturity dates, and investor rights. SEBI 2.0 connects the ledger of tokenized bonds with the wholesale Digital Rupee through a unified market interface RBI, allowing for the simultaneous flow of bonds and payment funds to reduce settlement risks. Subsequent phases are expected to introduce secondary market trading and gradually expand access to retail investors.