Argentina launches stablecoin with soy collateral
Argentine impacts crypto ecosystem with innovative soy tokenization
Argentina innovates the crypto world with the launch of a stablecoin that they called Cryptosoja, a currency collaterized into soy, as reported by local media Agrotoken through a statement.
The initiative promoted by production firms such as Adecoagro, El Boyero, Espartina and La Fe Vieja, together with agro-exporters, has been part of the development of a solution to tokenize soybeans in a silo bag. In this project the IOF Company and RUS have given their unconditional support.
The bag silo is known as an agricultural tool for the reserve of grains such as cereals and oilseeds and consists of a plastic bag that is used to store the harvest and preserve it until it is marketed.
In the statement, the firms explained that the main objective “is to tokenize 5 % of world soybean production (…) The process of tokenizing soybeans does not alter the traditional business circuit of buying and selling grains, but rather works as a digital solution for the farmers.”
According to the explanation of the creators, the peculiarity of this stable currency is that in addition to implicitly creating a decentralized ecosystem, it will serve as a financial instrument to establish agriculture business, which means that it will allow the transaction of payments, savings and investments.
K. Villarroel
Source: elaxioma
