India’s Arya.ag to put grain ownership records on Avalanche

Arya.ag, an Indian agricultural warehousing and lending company, is trialing a system to put tokenized warehouse receipts for stored grain onto a dedicated Avalanche layer-1 blockchain. The company is working with Finternet and has engaged Ava Labs' India team in the testing phase; Ava Labs’ regional head said trials are in progress and that each on-chain receipt would stand for ownership of the underlying commodity.

Under the design described by Finternet Labs, Arya.ag’s field samplers input physical-inspection data about stored grain into the company portal. Finternet will then combine that data with farmer, warehouse, insurance and loan records to form a “composite token” that lenders could use when evaluating collateral risk and outstanding pledges against a deposit.

Arya.ag said its existing business encompasses roughly $2 billion in agricultural commodities across its warehouse network and supports about 120 billion Indian rupees (roughly $1.26 billion) in annual lending; its lending arm, Arya Dhan, issues about $230 million in loans each year. The firms emphasized that those figures reflect current operations and do not indicate assets or loans already moved on-chain. They also noted the system’s usefulness will rely on accurate physical verification of the commodities the digital records represent.

The Finternet idea draws on a 2024 Bank for International Settlements paper co-authored by Nandan Nilekani and then-BIS general manager Agustín Carstens, which outlined interconnected unified ledgers for tokenized assets and highlighted the need for supporting legal and regulatory frameworks. The announcement also arrives against a backdrop of growing tokenized real-world assets on Avalanche (reported above $1.3 billion at end-2025) and India’s 2024, 10 billion-rupee credit-guarantee program intended to boost financing against electronic negotiable warehouse receipts for small and marginal farmers.