Arya.ag has begun recording information connected to approximately $2 billion in crops held across its Indian warehouse network on a dedicated layer-1 blockchain built with Avalanche technology from Ava Labs. The ledger links grain deposits, electronic negotiable warehouse receipts, or e-NWRs, and agricultural loan status records so authorized lenders can verify collateral, check whether crops have already been pledged and review outstanding debt. Infosys co-founder Nandan Nilekani announced the project at the Global Fintech Festival in Mumbai, while Finternet is helping establish communication rules between warehouses and lenders. Three major banks are joining the network, although their identities have not been disclosed. Arya.ag facilitates roughly $1.3 billion in agricultural loans annually, with its non-bank finance subsidiary Arya Dhan directly providing approximately $230 million. The company currently holds about $2 billion in crops, a figure that represents stored commodities rather than loans or collateral already recorded onchain. The blockchain does not transfer grain ownership or replace India’s legally recognized e-NWRs. Faster approvals, lower costs and broader credit access remain potential outcomes that have not yet been demonstrated. Arya.ag plans to expand access to other warehouse companies, but no schedule, production-loan target or onchain activity data has been published. The Finternet concept was outlined in a 2024 BIS working paper by Nilekani and Agustín Carstens, whose views were not presented as BIS regulations or operating standards.