The Securities and Exchange Board of India (SEBI) has announced a pilot project to explore the tokenisation of corporate bonds through Distributed Ledger Technology (DLT), with implementation anticipated within six to nine months. SEBI Chairman Tuhin Kanta Pandey stated that this project will initially be conducted on a limited scale to evaluate the feasibility of trading and settling corporate bonds using tokenisation. The initiative aims to enhance liquidity and facilitate instantaneous settlements, potentially transforming the corporate bond market's efficiency. While acknowledging the benefits, Pandey emphasized the need to assess associated risks, particularly those arising from advancements in quantum technologies. SEBI plans to collaborate with stakeholders to establish a robust operational framework for the pilot. Additionally, discussions with the Reserve Bank of India (RBI) are ongoing, with draft guidelines already issued, and SEBI is ready to proceed once final approvals are granted.