Investments
Junio 25, 2021 - < 1 min

Tokenizing commodities

Stablecoins backed by physical agricultural inventories

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This week has been difficult for cryptocurrencies, especially Bitcoin, whose value was hit hard by the Chinese government's crackdown on miners located in the Asian giant. The crypto phenomenon, however, remains very active. A few weeks ago, Argentine startup AgroToken launched cryptosoya, the first cryptocurrency backed by physical soybean reserves, making it a "stablecoin" (https://www.youtube.com/watch?v=zvXM8WIW80Y&ab_channel=Agrotoken).

Each crypto soybean is worth the equivalent of 1 ton of soybeans. AgroToken plans to launch stablecoins backed by physical reserves of corn and wheat as well. And, as if that weren't enough, the Latin American Lithium Chamber is proposing the creation of Atómico 3, a cryptocurrency backed by lithium.