India's Arya.ag Aims to Tokenize Grain Ownership Records on Avalanche Blockchain

Indian agricultural warehousing and lending company Arya.ag is collaborating with Ava Labs to develop a system for tokenizing warehouse receipts on Avalanche, a layer-1 blockchain. This system will allow lenders to verify ownership of stored grain through digital records.

The project involves working with Finternet to connect information about grain deposits, warehouse receipts, collateral commitments, and loan status through the network.

Arya.ag stores approximately $2 billion in agricultural commodities across its warehouses and supports around $1.26 billion in loans annually.

Each tokenized receipt will represent ownership of the stored commodity, according to Devika Mittal, Ava Labs' head of India.