According to TechFlow, on November 14, CoinDesk reported that Agrotoken, an infrastructure for agricultural product tokenization platform, announced plans to launch on Polkadot to achieve seamless tokenization of agricultural products. It is reported that Agrotoken is a tokenization platform, a trading digital asset backed by grains, used to store or exchange supplies, services and other assets. Previously, Agrotoken announced the completion of Pre-A round of financing, led by Visa.

According to the team: “Agrotoken, backed by Visa, will build a Polkadot parachain to tokenize soybeans, corn, and wheat. Agrotoken issues stablecoins backed by grains and food, with the value of each token reflecting the price of its corresponding commodity (soybeans, corn, or wheat). In this way, farmers, businesses, and financial institutions can easily trade, save, invest, and transact Agrotokens at any Visa point of sale.”