A new revenue-sharing token will make the value of cattle held at a Bolivian ranch available to investors.
Announced Monday, Swiss crypto advisory firm Finka will leverage blockchain infrastructure provider CoreLedger to open up â€œopportunities for traditional investorsâ€ by allowing them to trade cattle ranching digitally.
According to the companies, tokenizing the business will allow trading similar to in a traditional barter economy,
Finkaâ€™s native token will be used to facilitate trades every time cattle from the La Pradera ranch in Bolivia are sold, with a share of the profits then distributed to holders of the token.
The token is being claimed as the first blockchain-based financial instrument in Switzerland to hold an International Securities Identification Number, the universally recognized identifier for securities.
â€œThe Finka Token is unique in that it has a built-in link to a secondary market within the CoreLedger platform,â€ said CoreLedger CEO Johannes Schweifer. â€œHolders can convert the token into other tradable assets, literally anything from gold to oil or corn.â€
Finkaâ€™s token is the result of collaboration with other Swiss service providers including banks, engineers, legal advisers and investors, per the release. A special tax ruling means the token is exempt from Swiss withholding tax.
â€œWeâ€™re using cattle ranching as a low-risk activity on which to develop a financial instrument supported by blockchain,â€ said Finkaâ€™s founding partner, Carlos Fernandez Mazzi. â€œWeâ€™ve built a good roadmap for other industries to be able to create their own financial instruments for application in other areas of the economy.â€