Type to search

Banco Galicia will use Agrotokens as collateral to offer credits to agricultural producers

Agrotoken, the first global tokenization infrastructure, which aims to make the value of natural resources accessible to everyone, has reached a collaboration agreement with Banco Galicia to use agrotokens as collateral to grant more beneficial loans to agricultural products in Argentina.

The agreement includes the development of new financial products and business strategies aimed at offering more and better credit options to Argentine producers; where agro-assets will be used as digital collateral in a simple, transparent, and frictionless process.

Lucas Adur, Head of Business Development at Agrotoken, said: “We position ourselves as an infrastructure for the agricultural sector, allowing producers to conduct commercial transactions and access financial products efficiently and without friction. Agrotokens serve as collateral since they represent the intrinsic value of the grains delivered to a collection point, such as soybeans, wheat, or corn. We aim to make transactions simple, agile, and transparent, offering producers more and better options every day. This agreement opens a new world of possibilities for the sector.”

Eduardo Novillo Astrada, CEO and Co-founder of Agrotoken, commented: “With our infrastructure, we provide various options to operate daily using tokenized harvest as backup. These services constitute a large, safe, and real economic ecosystem through technology. 80% of our users use their agrotokens to purchase inputs such as seeds and fertilizers, but they can also be used as loan collateral, pay with the Visa Agrotoken card, in more than 100 million businesses worldwide, easily, transparently, efficiently, and safely.”

Florencia Román, Commercial Alliances Manager at Banco Galicia, added: “Our constant commitment is to innovation and digitization, and this new alliance represents a firm step in that direction. This collaboration will allow us to offer our customers easier and safer access to new opportunities, driving the development of the agricultural sector through harvest tokenization and digital transformation. Once again, we reaffirm our commitment to offer technological solutions that enhance growth and efficiency in the field.”

Victoria Engelberger, Commercial Manager of Agribusiness, said: “At Banco Galicia, we want to continue supporting the agricultural producer with the aim of enhancing their businesses, listening to their needs so that we can be present in their day-to-day in a more agile and simple way. For this reason, today we generate an agreement with Agrotoken to work together, create added value, and continue to make a difference in the agricultural industry with new digital solutions. Today we are working on a new 100% digital product, using Grain Tokens as collateral, to offer more financing opportunities to each of our Galicia customers.”

About Agrotoken

Agrotoken is the first global tokenization infrastructure that aims to make the value of natural resources accessible to everyone, to contribute to the development of a fairer and more equitable economic system, creating the world’s most real and reliable tokens. It is made up of a team of professionals passionate about the land and the new digital economy. They are the creators of the first agro-assets backed by grains for saving and transacting. Agrotoken is creating the next generation of agribusiness worldwide.

Photo by Sam Knight on Unsplash

Read other stories: The Tokenizer to publish five new asset tokenization reports

Hong Kong Virtual Asset Exchange Receives SFC Approval-in-Principle to Operate a Digital Asset Trading Platform


You Might also Like