dBonds is a standard for tokenizing debts.
Current repo is denoted to solution on the EOS blockchain.
Leaving the insentives to pay the debt back aside, we can say that the debt itself is the easiest thing to tokenize. Debt is nothing else than a note, that Alice obliged to pay Bob this amount until this time (or something very similar).
Why would one need to tokenize debt? There are a lot of reasons. The main and the most straightforward is that if Bob by some reason wants money before maturity, he can resell Alice's debt to somebody else who is ready to wait (and receive some interest rate). In general, when the obligation aqcuires physical form of a fungible token, it becomes way more transparent and convinient to track and manage it.
At this moment, standard enables to issue a digital bond (dbond) which is fiat-bond backed, since it is the current demand of a related Depos project. As a subject of future development we see the crypto-collateralized debt issuance (for short-term debt and margin trading on DEX) and even non-collateralized long-term debt issuance (which is the case in fiat corporate borrowing now).