How Agrotoken uses Algorand to cultivate a fairer agricultural future

May 1, 2024

Case Studies

Written by: Algorand Foundation

The agricultural sector, particularly in emerging markets, faces significant challenges. Small and medium-sized farmers (SMFs) often struggle with limited access to financing, opaque supply chains, and volatile market conditions. This not only impacts their livelihoods but also hinders the overall growth and efficiency of the entire sector. Agrotoken, a pioneering Argentinian agritech startup with access to the Brazilian market (LATAM’s leading agricultural producer), is transforming the agricultural landscape by leveraging the Algorand blockchain to create a more inclusive, transparent, and efficient ecosystem that empowers farmers and unlocks new opportunities for the entire agricultural value chain.


  • Scaled with extraordinary speed from 1,000 tons of soy recorded on the blockchain to 230,000 tons in just a few months in 2023.
  • Raised $12.5 million in Pre-Series A funding round in November 2023.
  • Secured partnerships with leading players like Visa, Bunge Ventures, Broto (a bank of Brazil platform) and CNH Industrial (Case and New Holland). 
  • Signed a technological agreement with Bolsa de Cereales, a major grain exchange, to develop a digital platform for the agricultural market.
  • Featured as one of the "10 Agtechs Promising to Transform the Brazilian Agribusiness in 2024" by SciCrop.


Latin American agriculture in particular faces several hurdles, especially for SMFs. Accessing financing is a constant struggle, making it difficult for them to invest in essential resources and improvements. Additionally, opaque supply chains often leave farmers vulnerable to prices that may not reflect the full value of their crops. This combination of limited options and a lack of transparency creates a challenging environment for them to thrive.


Driven by the vision of co-founders Eduardo Novillo Astrada and Ariel Scaliter, Agrotoken was born out of a need for agriculture to truly thrive in the face of modern-day challenges. They saw blockchain technology as the key to unlocking transparency, efficiency, and inclusivity within this traditionally opaque sector.

Read also: TravelX: Pioneering the Most Unique Enterprise NFT Use Case Yet on Algorand

At the heart of Agrotoken's solution lies tokenization, where each token represents a specific quantity and quality of the underlying asset, stored securely on the blockchain. Farmers can transform their grains into tradable digital assets, known as "Agrotokens," through the platform. For each token that is minted, Agrotoken maintains one ton of grain as collateral, ensuring a tangible asset backs every digital representation of that asset. These tokens offer several advantages: they can be traded on marketplaces, exchanged for agricultural supplies and services, and even used as collateral for loans, ultimately unlocking new financial opportunities for farmers. 

The "Agrotoken Standard" serves as the foundation for creating and managing these Agrotokens. This standard essentially defines the rules and specifications for securely and transparently representing real-world agricultural assets like grains and livestock on the Algorand blockchain. It ensures consistency and trust within the ecosystem by establishing how these digital representations are created, managed, and exchanged.


Currently, no other company offers tokens backed 100% by soy, corn, or other commodities such as wheat, coffee, sugar cane, among others. This unique feature sets Agrotoken apart and provides a level of security and transparency unmatched in the industry. Its secure and efficient ecosystem streamlines grain trading, facilitating easier, more reliable transactions.

Agrotoken's approach unlocks several benefits for the agricultural ecosystem: 

Enhanced financial inclusion: SMFs gain access to new sources of funding through tokenized assets. This opens doors for them to further invest in their farms and improve their yields, ultimately leading to increased income and a more secure future.

Increased transparency and traceability: Throughout the supply chain, participants can access real-time information about the origin, quality, and movement of agricultural products. This transparency fosters trust, reduces fraud, and promotes fair pricing for farmers.

Read also: The Rise of Folks Finance: Setting a New Standard in DeFi

Improved efficiency: Streamlined transactions and faster settlements contribute to a more efficient and cost-effective agricultural system. This not only benefits farmers but also streamlines processes for other stakeholders in the industry.

Further growth and development

Agrotoken’s rapid scaling, spanning Argentina and Brazil, demonstrates its significant impact and highlights the platform’s value. The company closed a successful Pre-Series A funding round in November 2023, raising $12.5 million to further develop its platform and expand its reach. It plans to launch new products specifically designed for farmers and merchants, further enriching the ecosystem. The entity is also developing Agrotoken Labs for creating custom solutions tailored to the specific needs of strategic partners.

Beyond its current success, Agrotoken is actively forging strategic partnerships with industry leaders to further expand its reach and impact. These collaborations include:

  • VISA Lift Project: This collaboration aims to explore the co-creation of innovative financial solutions for the agricultural sector utilizing the Agrotoken platform.
  • CNH Industrial: This partnership focuses on integrating Agrotoken's platform into John Deere's agricultural machinery, enabling farmers to tokenize their crops into credits to use in commercial and financial operations. 
  • Broto: This partnership facilitates fertilizer purchases for farmers using Agrotoken, providing them with greater access to essential resources.

By leveraging the power of the Algorand blockchain and fostering strategic collaborations, Agrotoken is poised to shape the future of agriculture. As Agrotoken continues to build a more inclusive, transparent, and efficient ecosystem, it is empowering farmers, unlocking new opportunities, and paving the way for a more sustainable and prosperous agricultural future.

See all Algorand case studies


The content provided in this blog is for informational purposes only. The information is provided by the Algorand Foundation and while we strive to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained on the blog for any purpose.


The content of this blog is not intended to be financial advice. You should not take any action before conducting your own research or consulting with a qualified professional. Any reliance you place on such information is therefore strictly at your own risk.


In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.


Through this blog, you may be able to link to other websites which are not under the control of the Algorand Foundation. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.


Every effort is made to keep the blog up and running smoothly. However, the Algorand Foundation takes no responsibility for, and will not be liable for, the blog being temporarily unavailable due to technical issues beyond our control.