India Just Settled Bonds and Money at the Same Time India's securities regulator has launched a tokenized corporate-bond pilot, with three issuers already raising about $107 million through the system. The interesting part isn't simply that the bonds are tokenized: they're connected to India's wholesale CBDC so the security and the payment can settle together. Normally those are separate processes, which creates the awkward possibility that one side of a transaction completes before the other. Atomic settlement basically says: either both happen, or neither happens. The pilot also keeps the conventional bond intact - same ISIN, coupon, maturity and investor rights. Blockchain is changing the settlement infrastructure rather than inventing a completely new financial product. That's probably the version of tokenization I'd pay attention to for $ETH and other smart-contract networks. Not “we put a bond on blockchain.” What became measurably better because we did? #ETHBlockchain #ETHFoundation