Today, the agricultural commodity blockchain platform GrainChain announced it is moving to Symbiont’s enterprise blockchain platform Assembly. GrainChain aims to expand and scale its platform by making this technological shift. Both firms have investment from Overstock-owned Medici Ventures, and Symbiont has more than $35 million in financing, including from Nasdaq and Citi.
While the move is portrayed as a switch in technology, it also opens up a new avenue for finance-focused Symbiont in supply chain finance.
Texas-based GrainChain is currently operating in Texas, Honduras, and Mexico, and plans to tap other global markets. One of its better known projects is a solution for the Honduras coffee industry.
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