Visa and Agrotoken launch payments with tokenized grains

To the cryptocurrencies, with each passing day, are becoming more popular in the social sphere. In this sense, the adoption of this digital asset, currently, allows the acquisition of various goods that were previously not sold using this type of money. An example of this is that, now, producers can use their cryptocurrencies to buy machinery agricultural products, inputs and other products in more than 80 million establishments that accept the card Visa.

In this way, the agrotoken, one startup Argentina tokenization of agricultural commodities, and payments giant Visa have reached an agreement in which they have launched a card with grain-backed tokens. In this way, the payment solution supports tokens called Agrotoken. In this sense, each one is the equivalent of a ton of grains, whether soy, corn or wheat, which are sold and delivered by the producer to a specific warehouse. Therefore, in practice, the currency is a kind of a stablecoin, a type of cryptocurrency paired with some stable asset.

In addition, as Agrotoken points out, the amount of commodities is recorded on blockchains, so everyone can be audited. It is also worth mentioning that the project has been using the Ethereum (ETH), Polygon (MATIC) and Algorand (ALGO) ecosystems. Thus, with the use of the card, farmers will be able to make their purchases in several establishments that accept the Visa flag. Finally, it will also be possible to apply for loans secured by grains, in addition to being able to consult price indices in real time, without quotes.

Geographer and pseudo writer (or otherwise), I'm 23 years old, from Rio Grande do Sul, lover of the seventh art and everything that involves communication.