National Securities Depository Limited (NSDL) has launched Demat 2.0, a next-generation securities platform aimed at supporting tokenised securities and enabling near real-time settlement through integration with the Reserve Bank of India’s wholesale Central Bank Digital Currency (CBDC) infrastructure.
The launch is part of the market-wide pilot for tokenised corporate bonds announced at Global Fintech Fest 2026. The initiative was jointly inaugurated by RBI Governor Sanjay Malhotra and SEBI Chairman Tuhin Kanta Pandey.
Built on distributed ledger technology (DLT), Demat 2.0 is designed to enable the simultaneous exchange of securities and funds through a delivery-versus-payment mechanism. This could help reduce operational complexity, reconciliation requirements and settlement risks across the securities market.
The platform also supports the automation of corporate actions, including interest payments and redemptions, through smart contracts, subject to applicable regulations. The technology is intended to streamline processes for issuers, intermediaries and investors while improving the overall efficiency of the capital market ecosystem.
Commenting on the launch, NSDL Managing Director and CEO Vijay Chandok said the first dematerialisation revolution transformed securities ownership by replacing physical certificates with secure electronic records. According to him, Demat 2.0 represents the next stage by bringing securities and payments together on next-generation digital infrastructure.
India’s investment ecosystem has expanded significantly in recent years. As of
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