I have bred them, they breed like other danios but need a bit more room, if you have a male/female pair they might breed but they are happiest and most likely to breed in small shoals, 5-6 will work, you need a fair sized tank as they will dash about scattering eggs as they go, a 55g worked for me. The tank should be heavily planted with bushy plants or have spawning mops on the bottom as they will eat their own eggs. The eggs will hatch in between 36 and 48 hrs. The fry need baby brine shrimp, daphnia, and will sometimes eat smashed cooked egg yolk.
The water level should only allow about 6" between the spawning mop and the surface if you wish to save the eggs, each female lays about 300.
To trigger spawning slowly raise the water temp to around 85 degrees and give at least 12 hrs of light a day, then do a 30% water change with dechlored water at about 72 degrees, this simulates the onset of the rainy season. Set the heater back to 78 degrees.
They should start spawning within a few hours if they are ready. To get them ready give black worms, tubifex, and brine shrimp for a couple weeks first.
Of course they sometimes spawn on their own, and if you don't care about the survival of the eggs you don't need to lower the water level or provide spawning mops.