Fresh Supply Co (FSCO) integrates Hedera’s token minting service

Fresh Supply Co (FSCO), a data provenance solution that aims to help the agribusiness industry via blockchain technology, has announced integration with the Hedera Token Service (HTS).

The collaboration with the Hedera will see FSCO integrate HTS into its application programming interface (API) dubbed Continuity. FSCO's move follows its migration of operations from the recently discontinued Mastercard Provenance blockchain to Hedera.

FSCO integrates Hedera’s HTS

Until this collaboration, the Continuity API was available to users on Hedera’s Consensus Service. However, it will now leverage the blockchain platform’s token minting service to facilitate greater transparency and data verifiability across the value chain.

HTS is a turnkey solution that allows users to embed conditional minting and management of both fungible and non-fungible tokens (NFTs) on the Hedera network.

Hedera shared the news in a blog post.

Embedding these mainnet capabilities into commercial workflows, including in invoices and debt, has the potential to transform the supply chain financing sector. This is expected to empower financial institutions, allowing for data-driven credit decisions and thus increasing lending confidence and expansion of trade financing prospects for consumers.

Shayne Higdon, the co-founder and CEO of HBAR Foundation, said in a statement:

Eyeing the tokenization boost

FSCO is also targeting the tokenization momentum across the globe and will leverage the HTS integration to roll out AI-backed digital tools and digital assets. This will include the use of large language model (LLM) technologies in data extraction and workflow automation.

Tokenization has gathered pace in recent months, with real-world use cases in supply chains, financing and agriculture among others. FSCO will use its partnership with Hedera to expand its footprint in the sector.

FSCO CEO David Inderias said:

FSCO integrated the Hedera Consensus Service (HCS) in August, bringing Automated Clearing House payments to Hedera users. Automated Clearing House payments is an electronic bank-to-bank payments option available to users in the US and the Mastercard network.

The Hedera and FSCO alliance will also see the blockchain network’s user base get access to Mastercard Payment Gateway Services (MPGS). As announced, the integration is also set to extend to the upcoming Mastercard Web3 as well as the payments giant’s other digital asset products.