Arya.ag puts India’s $2B grain network onchain

Arya.ag has begun putting records connected to approximately $2 billion in stored crops on an Avalanche-based blockchain for agricultural lenders in India. Summary Arya.ag has deployed an Avalanche-based ledger covering grain deposits, receipts and agricultural loan status records. The company holds around $2 billion in crops across its Indian warehouse network at present. Three major banks are joining Arya.ag’s dedicated blockchain, though their identities remain undisclosed for now. Arya.ag facilitates roughly $1.3 billion in annual loans and directly issues around $230 million itself. Tokenized records do not transfer grain ownership or guarantee faster approvals and cheaper credit access. Reports on Sept. 10 said the system records grain deposits, electronic warehouse receipts and loan status, enabling authorized lenders to verify crops offered as collateral. Infosys co-founder Nandan Nilekani announced the project at the Global Fintech Festival in Mumbai. 🇮🇳 INDIA is taking blockchain beyond crypto.Arya(.)ag, one of India's largest agricultural warehousing companies, is using Avalanche technology to put grain deposits, warehouse receipts and loan status onchain.The scale is no...