Avalanche Unlocks $2B India Agri Credit, 12,000 Sites
Photo: TronWeekly
Avalanche is now powering the on-chain infrastructure behind India’s traditional credit system, which has long relied on paper receipts and slow verification. Arya. Ag, one of the country’s largest operators of agricultural warehousing and one of India’s most notable borrowers, is moving its financing infrastructure to a dedicated Avalanche Layer 1 developed with Finternet Labs. Announced at the Global Fintech Festival in Mumbai by Infosys co-founder Nandan Nilekani, grain deposits, electronic warehouse receipts, collateral position, and loan records will be linked on a common ledger. At the heart of this effort is the electronic Negotiable Warehouse Receipt, or e-NWR.
Source: TronWeekly
