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Santander to offer loans secured by grain-based crypto tokens

2022/03/08 08:13

According to The Block, Financial services company Santander said it will offer a new type of loan in Argentina, backed by tokens based on agricultural commodities. In a March 7 blog post, the Spanish multinational said it was partnering with startup Agrotoken to offer loans for the agricultural sector. The loans are backed by tokens tied to grains like soy, wheat and corn. Agrotoken offers stablecoins that each represent a ton of stored grain. These include soy (SOYA), corn (CORA) and wheat (WHEA). Each token's value is pegged to the price of each commodity in US dollars.
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