Arya.ag Taps Avalanche Blockchain for Grain Ownership Records

Indian agricultural warehousing and lending company Arya.ag is testing a system to tokenize warehouse receipts for stored grain on a dedicated Avalanche layer-1 blockchain.

The project, in collaboration with Finternet, aims to connect grain deposits, warehouse receipts, collateral commitments, and loan status through the network. Each tokenized receipt would represent ownership of the stored commodity, according to Ava Labs' head of India, Devika Mittal.

Arya.ag stores about $2 billion in agricultural commodities across its warehouse network and supports approximately 120 billion Indian rupees (about $1.26 billion) in loans annually, making it a significant player in the industry.