Arya.ag Taps Avalanche for Grain Ownership Records

Indian agricultural warehousing and lending company Arya.ag is developing a system to tokenize warehouse receipts for stored grain on Avalanche, a dedicated layer-1 blockchain. The project aims to provide a shared record of grain ownership, including who owns it, whether it's already pledged as collateral, and what debt is outstanding.

Arya.ag is collaborating with Finternet to connect grain deposits, warehouse receipts, collateral commitments, and loan status through the network. Each tokenized receipt will represent ownership of the stored commodity.

The system will still depend on accurate verification of the physical commodities represented by digital records. 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, according to the announcement.