Team Blitz India
KOCHI: A startup launched by Avira Tharakan, an entrepreneur based in Alapuzzha, has introduced a tokenised finance (decentralised finance) platform. This will boost the availability of cheaper finance from abroad for seafood exporters.
The platform, Kochi-based Renai.IO (Metabasu Technologies Ltd.), is the first such enterprise in the country. The digital platform directly connects investors abroad with Indian marine exporters.
According to the founder and CEO of Renai.IO Avira Tharakan, the platform incorporates crypto technologies and export finance.
“Easy finance will be available to marine exporters without depending on banks,” he said. Being a decentralised finance, money will be available anywhere in the world. “Tokenisation involves digitising real-world assets such as real estate, equity, debentures, art objects, intellectual property and data.
Even a seafood container can be tokenised,” said Tharakan. Initially, the startup will arrange a fund worth $100 million by roping in investors from the Gulf region. “India is engaged in seafood exports worth $8 billion (Rs 60,000 crore) every year.
Renai aims at a tokenisation of Rs 1,000 crore in one-and-a-half years,” he said.
The tokenisation finance will be extended to other sectors also, added Tharakan.
