AgriDex, a Solana-based real-world assets (RWA) marketplace bringing the $2.7 trillion agricultural trade on-chain, has facilitated the first-ever farmland deal on Solana.
FUNDING | South African Agricultural Real World Assets Solana Marketplace, @AgriDexPlatform ( $AGRI ), Raises Over $9 Million
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— BitKE (@BitcoinKE) December 30, 2024
A contract denoting ownership of the land in Zambia, valued at $165,000 was transferred, with settlement occurring instantly and at zero cost. In contrast this transaction would have taken between 1-5 business days to clear an international bank transaction, and could cost significant amounts of capital.
Solana’s high-speed, high-volume, and low-cost infrastructure underpins AgriDex’s settlement system, ensuring seamless cross-border transactions. The network’s ability to handle real-time, scalable financial operations makes it the ideal foundation for modernizing global agricultural trade.
“This is a landmark moment for blockchain adoption in agriculture,” said Henry Duckworth, Co-Founder and CEO of AgriDex.
“For the first time, a contract of farmland has been traded and settled on the blockchain, setting a new standard for efficiency in the trading of agricultural real estate. This is just the beginning of a much larger movement towards digitised agricultural finance as we progress to facilitate $2.6m worth of farmland transactions in the coming month.”
The sale involved farmland in Zambia, with proceeds moving seamlessly from the seller to Sustainable Agricultural Development (SAD) in Mauritius via AgriDex’s digital settlement infrastructure.
Beyond this single transaction, AgriDex is already working with multinational food companies to reduce settlement delays and eliminate unnecessary costs in cross border transactions.The platform currently saves its launch partners over $40 million annually – capital that can be reinvested to scale businesses and strengthen global food supply chains.
This transaction follows AgriDex’s previous on-chain agricultural trades, including the sale of olive oil, wine, coffee, and livestock, further demonstrating how blockchain can make the agricultural industry more efficient at every level.
USE CASE | South African Real World Assets Platform, @AgriDexPlatform, Completes First On-Chain Coffee Trade, Exported from UK to South Africa
According to @tikitongacoffee, the transaction just cost 0.5% than the typical 5% – 7%https://t.co/9SsWD9p4zK @solana $AGRI $SOL pic.twitter.com/LqAe4TIKem
— BitKE (@BitcoinKE) December 30, 2024
Despite being a $2.7 trillion industry, agriculture remains plagued by slow transactions, high costs, and inefficient cross-border payments. Many agricultural businesses are forced to navigate complex banking workarounds that add layers of fees, delays, and regulatory hurdles. By eliminating intermediaries and enabling real-time transactions, AgriDex ensures that businesses retain more capital, access liquidity faster, and reinvest in growth without financial bottlenecks.
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About AgriDex:
AgriDex is a leading RWA marketplace on Solana leveraging blockchain technology to transform the global agricultural industry. By facilitating more efficient trade, reducing transaction costs, and improving supply chain transparency, AgriDex commits to empowering farmers and enhancing global food security.
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