NEW YORK, April 9, 2019 /PRNewswire/ -- FarmTogether is partnering with TODAQ to help create a liquid and low-cost secondary market for farmland, especially in international markets; efficiently attract capital; eliminate transaction costs as well as most legal and administrative friction; and improve the immutability and timeliness of yield returns to asset owners. A Memorandum of Understanding was announced during the 2019 Global Ag Investing Conference in New York and the LendIt 2019 Conference in San Francisco.
"We are excited by what TODAQ's decentralized settlement platform and international reach will bring to the FarmTogether ecosystem. In addition, we are proud to announce that TODAQ will also be acquiring institutional grade farmland in regulatory compliant markets through our investment platform for its TDN program's reserve backstop." said Artem Milinchuk, FarmTogether founder and CEO.
For TODAQ, the partnership will help broaden the user and investor base who have access to its TaaS ('TODA-as-a-Service)' platform; add more commercial and investment use cases to a rapidly diversifying ecosystem; and secure low risk high-quality farmland for the reserve backstop of the TDN ('TODA Note') decentralized loyalty program.
"FarmTogether's investment platform, with its yield producing agricultural assets, will fill investment needs across the many global markets where TODAQ is building its presence. Farmland on the TODA protocol becomes a secure, private, and scalable peer-to-peer asset class that can fractionate to achievable optimal liquidity. We look forward as well to working together with Artem and the FarmTogether team to add farmland from participating Eurasian markets to the TDN reserve" said Hassan Khan, TODAQ CEO and Co-founder.
The Memorandum envisions broad partnership across geographies and products beyond the initial objectives, and is supported by common values and the deeply shared conviction of the founders that removing barriers for capital flows in a socially responsible and regulatory-compliant way meaningfully enhances positive outcomes for all stakeholders.
TODAQ is a fintech "bank of the future" that offers both supply chain solutions and consumer solutions to enterprises, banks, and smart cities for all their asset and money transactions. It intends to also provide these clients access to value added finance and insurance services. TODAQ is also responsible for the distribution of the Toda Note (TDN), a cryptographically controlled supply of 237 USD backstopped digital notes designed to be used as a medium of exchange for commerce and industry.
FarmTogether is a technology-enabled farmland investment platform. FarmTogether's mission is to democratize farmland investing globally while also helping partnering farmers earn higher profits and facilitating better environmental practices. FarmTogether is based in San Francisco, California. It is backed by technology investors out of Silicon Valley, NYC, Los Angeles and Dubai.
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SOURCE TODAQ; FarmTogether