Arya. ag implements Avalanche blockchain for Indian grain records

Arya. ag, an Indian agricultural warehousing and lending company, has begun deploying an Avalanche-based blockchain to record grain deposits, warehouse receipts, and agricultural loan statuses. The initiative aims to provide lenders with a way to verify crops offered as collateral.

The system involves tokenizing warehouse receipts to represent ownership of stored commodities. Finternet is working with Arya. ag to create “composite tokens” that combine data regarding farmers, commodities, warehouses, and insurance, allowing banks to better assess collateral risk. Three major banks are reportedly joining the dedicated blockchain, though their identities have not been disclosed.

Arya. ag currently manages approximately $2 billion in agricultural commodities across its Indian warehouse network and facilitates roughly $1.3 billion in annual loans. The project was announced by Infosys co-founder Nandan Nilekani at the Global Fintech Festival in Mumbai. While the technology tokenizes records, the companies noted that the current deployment is focused on recording information such as grain deposits and electronic negotiable warehouse receipts (e-NWRs) to support the lending process.