TechFlow news: Argentine agricultural commodity token company Agrotoken has announced the completion of a $12.5 million Pre-A funding round. The round was led by Bunge Ventures, the investment arm of global agribusiness trader Bunge, with participation from Visa and other investors.
Headquartered in Argentina, startup Agrotoken is the world's first agricultural commodity tokenization platform. Its core business involves issuing stablecoins backed by grain and food commodities. Through its token platform, Agrotoken converts grains into digital assets (one Agrotoken equals one ton of grain), which can be used to store value or exchange for other assets and services such as seeds, vehicles, machinery, fuel, and more.
To date, Agrotoken has tokenized $105 million worth of agricultural products, equivalent to 124,352 tons of soybeans, 94,423 tons of corn, and 13,818 tons of wheat.
