Field: they launched the first card that allows the producer to pay with grains

in betweenhis agricultural booma local company looked for a way to allow agricultural producers digitalize your grainswhich in turn allows them to pay at stores using a debit card.

Through an alliance with Visa, the local company Agrotoken presented a plastic that lets you pay to more than 80 million businesses in the world associated with its network along with its tokenized grains. What is that about? Agrotoken, a company founded by Eduardo Novillo Astrada and Ariel Scaliter offers links between producers, stockpiles and exporters, and participating businesses.

so, the yield, which was previously inactive, can now be converted into tokens and used to purchase supplies, services,generate collateral for loans or funding equipment. Tokenized grains are, strictly speaking, stable cryptocurrencies that, unlike those reviewed in recent days, are backed by real-world assets.

In particular. each token represents a ton of grain sold and delivered by the producer to a warehouse. All tons are verified through the “Grain Reserve Test” (PoGR), a transparent, secure, decentralized and auditable system at all times.

Also, Agrotoken uses a multichain security infrastructure through technologies Ethereum, Polygon and Algorand, according to the optimal use case for each.

Once producers have acquired their digital assets, they can use them to perform various operations, including consulting grain value indices in real time, available on the Matba Rofex Group or the site of Agrotoken, apply for grain-backed loan and now pay their current expenses with a card.

The Visa alliance does not end with the universe of payments. “In addition, it is more than just a card that is currently known, with Visa we are making an application, where the producer will be able to keep a record of all their transactions so that their accounting and decision making is easier, even if every time the use will have cash back on crypto ”, explained Novillo Astrada.

“The agricultural sector is important for the Argentine economy and increasingly, digital solutions are needed so that the business can be more agile, efficient and competitive and successfully enter the commerce of the future. And we, at Visa, are at the forefront of this revolution, providing innovative and flexible solutions that allow us to improve the administrative processes of buying and selling, among others ”, said Gabriela Renaudo , General Manager of Visa in Argentina.

YN