Arya.ag tokenizes $2 billion in grain-backed loans on Avalanche

Indian agricultural warehousing firm Arya.ag (Arya.ag) is utilizing Avalanche (AVAX) technology to tokenize grain deposits, electronic warehouse receipts, and loan statuses. Announced by Nandan Nilekani (Nandan Nilekani) at the Global Fintech Fest in Mumbai, the project aims to provide lenders with reliable verification for crop-backed loans. Arya.ag will operate a dedicated Layer 1 blockchain, with three major banks already preparing to integrate. The firm manages approximately $2 billion in crops and facilitates $1.3 billion in annual loans.