The futures and options exchange in Argentina, Matba Rofex, announced the tokenization of the first silobags in the country. This process creates digital representations of the grains stored in silobags, allowing their use as collateral in financial transactions.
Due to this collaboration, companies that store grains in silobags now have the possibility of tokenizing them, creating a “digital twin” of themsuggests Matba Rofex in a press release.
According to the company, this digital process not only provides greater visibility and traceability to agricultural assets, but also allows the silobags to be used as collateral in Matba Rofex futures and options transactions, which is one of the main futures and options markets in Argentina, offering a platform where agricultural assets, currencies, and other financial instruments are traded.
Silobags are a solution for grain storage, where hermetic plastic bags are used to preserve the quality of the grain directly in the field, avoiding the need for expensive infrastructure such as traditional silos.
The first successful operation announced by the platform involved the tokenization of more than 5,000 tons of grains, with a value of more than USD 1.6 billionavailable as collateral for various operations at Matba Rofex.
This initiative included the participation of key players such as the company AG Warrants, responsible for issuing guarantees that certify the ownership and existence of the grains, and SilCheck, provider of monitoring technology to ensure grain quality.
Origino, a technological platform that collaborated with Matba Rofex on the innovative silobag tokenization initiative in Argentina, also participated.
This system makes it possible to visualize and value the physical assets of the agricultural sector, ensuring their quality and condition thanks to the integration of advanced technologies, such as silobag sensing and telemetry.
In the context of the relationship between the Argentine agricultural sector and the cryptocurrency ecosystem, it is worth noting that Tether, one of the main stablecoin issuers, invested 100 million dollars in the Argentine company Adecoagro, evidencing a growing interest in the integration of advanced financial technologies with agriculture, as reported this week by CriptoNoticias.
This article was created using artificial intelligence and edited by a human on the editorial staff.
