AIFC licenses grain tokenization companyThe Astana International Financial Centre (AIFC) announces that the Astana Financial Services Authority (AFSA) has granted Commodity Chain Ltd. a license to operate a platform for the trading of tokenized real-world assets (RWAs), including agricultural commodities such as grain, the AIFC said in a press release.“The license paves the way for the development and future implementation of solutions for tokenizing real-world assets, including agricultural commodities, and enabling their trading on an AIFC-licensed platform using advanced digital technologies and the AIFC’s financial infrastructure,” the press release says.The project’s first application will focus on the tokenization of agricultural products, including grain stored at modernized grain elevators, according to the AIFC.Commodity Chain Ltd. will operate within the AIFC’s FinTech Lab regulatory sandbox under a licence issued by AFSA. In the future, the model may be expanded to other regions of Kazakhstan, international markets, and additional categories of real-world assets, the AIFC said.“Tokenization is more than just a new financial technology. It is a way of linking a digital instrument to a tangible asset within the real economy. In this case, we are talking about grain that is stored, monitored, and represented as a digital financial instrument. This model combines international regulation, blockchain technology, IoT-enabled monitoring, and the practical needs of the agricultural sector,” said Talgat Amanbayev, Chief Innovation Officer of the AIFC Authority.A key feature of the initiative will be the “Transparent Elevator” system. Through digital monitoring using temperature and humidity sensors, automated weighing systems, and other smart technologies, it will enable real-time tracking of both the quantity and condition of stored grain.This approach is designed to enhance storage transparency and strengthen confidence in tokenized assets backed by physical commodities. The financial model will enable farmers to use tokenized assets as collateral for short-term financing. During periods of higher market prices, grain or tokens may be sold, while smart contracts will automatically settle outstanding loans and transfer the remaining proceeds to farmers.“The project simplifies and accelerates access to financing secured by existing assets and future revenues for a broad range of domestic and international investors within a regulated environment,” said Anvar Nietkaliyev, Senior executive officer of Commodity Chain Ltd.A pilot blockchain project for agriculture was previously planned in Kostanay region, with an eye toward nationwide rollout if successful.Commodity Chain Ltd. is a Kazakh technology and finance company specializing in digital infrastructure for real-world assets. It is registered in the AIFC.The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and business meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. (ICE ALMATY)

Fonte notizia: INTERFAX