The economic center of Brazil, São Paulo, will pilot blockchain-based microloans for farmers

According to Coindesk, Brazilian fintech company Tanssi is launching a government-supported blockchain project. The project is backed by the São Paulo city government and provides quick loans of up to 15,000 reais (approximately 2,800 USD) to small rural producers. The service will be launched next month, and its mobile application is already online.

The project utilizes a blockchain infrastructure built on Tanssi's technology, allowing for predictable transaction fees and reliability without relying on public blockchains like Ethereum or Solana.