India’s Arya.ag to put grain ownership records on Avalanche

The system will combine farmer, grain, warehouse, insurance and loan data for lenders, though no launch date or initial deployment size was disclosed.

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. 

Arya.ag is working with Finternet to connect grain deposits, warehouse receipts, collateral commitments and loan status through the network.

Devika Mittal, Ava Labs’ head of India, told Cointelegraph that testing was underway and said each tokenized receipt would represent ownership of the stored commodity. The companies did not disclose an expected launch date or how much grain or lending the initial deployment would cover.

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