The company already has its technology hub in Uruguay, where 35 people currently work.
Agrotoken is an innovative company born in Argentina in the midst of the pandemic, which seeks to make natural resources accessible to all people, with the ultimate goal of contributing to the development of a fairer and more equitable economic system.
To achieve this, Agrotoken created tokens that they define as “the most real and reliable in the world” because they are precisely grains.
Within six months Agrotoken will open its doors in Uruguay with the aim of expanding its business in other Latin American countries.
In December 2021, Agrotoken shared its plans for 2022 and within them was its interest in expanding in Latin America. The company has kept its word and that is why it announced that it will arrive in Uruguay in the coming months.
Currently, Agrotoken operates in Argentina and Brazil, and its main objective is to offer tokenization infrastructure for agricultural products such as grains and food. With the above, the company seeks the financial inclusion of local grain producers, so that they can enter a commodity market of more than 2 billion dollars annually.
According to Martín Mateo Cerón, Head of Product Design at Agrotoken, although the company already has its technological hub in Uruguay, they plan to start operations in the local market in the next six months.
“The next step is to expand to the United States and gain market share in Uruguay and Paraguay,” added Cerón.
“I am Uruguayan, I know the market, I have worked in technology companies all my life and I know that Uruguay is a great goal for that.”
As reported by El Observador, initially, the Uruguay hub only had five people in October 2021. However, the firm’s strong development has recruited 35 people, and this number is expected to grow twice by the end of 2022.
It is important to highlight that the Agrotoken business model proposes that each token be backed by a ton of grains, and delivered to a collector that certifies it.
Agrotoken: a World Reference
The co-founder and CTO of Agrotoken, Ariel Scaliter, assured in 2021 that he was confident that the company would position itself as a world benchmark during this year when they began to tokenize more exportable raw materials such as: sorghum, oats, barley, sunflower, wine, oil, coffee, lithium, and sugar cane.
“We started with the idea of linking the crypto world with Argentine producers. We wanted to give them liquidity and financing backed by the grain that they had immobilized in their silo bag or in a stockpile.”
Loans with Tokenized Grains for the Agro World
Among the most important projects of Agrotoken, its alliance with Santander stands out, with which loans are offered with tokenized grains, such as soybeans (SOYA), corn (CORA), and wheat (WHEA). In this way, farmers and the agro-ecosystem will be able to have easy and fluid access to a new financing system, thus expanding their credit capacity.
“A producer can request a loan based on their tokens and use them as collateral,” Scaliter added.
With this alliance, the company intends to allow the world of agriculture in Argentina to have easy and fluid access to a new financing system.
By Audy Castaneda