Arya.ag Touts Tokenized Grain Ownership Records on Avalanche Blockchain

Arya.ag, an Indian agricultural warehousing and lending company, is testing a system to tokenize warehouse receipts for stored grain on Avalanche. The system, developed in collaboration with Finternet, will connect grain deposits, warehouse receipts, collateral commitments, and loan status through the network.

According to Devika Mittal, Ava Labs' head of India, each tokenized receipt will represent ownership of the stored commodity. Sanmesh Kalyanpur, a director at Finternet Labs, explained that Arya.ag's samplers collect information about stored grain and enter it into the company's portal.

Finternet will combine farmer, commodity, warehouse, and insurance information to create a 'composite token' that banks can use when assessing collateral risk. Arya.ag stores approximately $2 billion in agricultural commodities across its warehouse network and supports around 120 billion Indian rupees ($1.26 billion) in loans annually.