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Ripple announced that Mercy Corps Ventures, in collaboration with traceability technology provider WËIA, will begin its second pilot project to promote agricultural finance in Colombia. A component of Ripple Impact’s larger “Unlocking Opportunity” program, this project aims to raise smallholder farmers’ income through blockchain technology.

According to Ripple, the project’s goals are to: Through blockchain-powered traceability on the XRP Ledger (XRPL), this pilot project, which is being carried out in partnership with WËIA, aims to improve financial inclusion and income for smallholder farmers in Colombia.

To track the production of agricultural products, specifically panela, a traditional unrefined cane sugar, from planting to harvest, the pilot uses WËIA’s traceability platform, which is based on the XRP Ledger.

The system responds to the growing demand for transparency in global food supply chains by providing verifiable sustainability information through a QR code assigned to each product. XRPL’s carbon-neutral architecture, speed, and cost effectiveness offer the technical foundation for dependable and unchangeable recordkeeping.

Furthermore, the pilot provides a financing option known as “Farm Now, Pay Later” (FNPL), which enables farmers to purchase inputs ahead of time and postpone repayment until after harvest

Historically, farmer productivity has been constrained by liquidity issues, which this mechanism seeks to address. About 300 smallholder farmers will process 240 tons.