AgriDex annnounced the first on-chain farmland transaction on the Solana network was successfully completed.
The deal consists of a $165,000 land purchase in Zambia. The purchase was settled immediately at no cost using AgriDex’s digital settlement system. AgriDex is a Solana (SOL)-based platform focused on real-world assets with a focus on the global agricultural industry.
The payment was transferred from a buyer to Sustainable Agricultural Development in Mauritius. This is a real example of how blockchain can faciliate cross-border transactions, making large-scale deals cheaper and quicker.
By comparison, standard bank transfers can take several business days to complete and at a high cost. By using Solana’s infrastructure, known for fast processing and low costs, AgriDex offers an alternative model to facilitate agricultural trade.
“For the first time, a contract of farmland has been traded and settled on the blockchain,” said Henry Duckworth, co-founder and CEO of AgriDex. “This sets a precedent for improving how agricultural real estate is exchanged and financed.”
You might also like: APOLLO debuts as Solana’s first trustless Bitcoin exchange via Zeus Network
A $2.7 trillion industry
AgriDex says it is preparing to process an additional $2.6 million in farmland deals in the coming weeks. The company also claims that by using its platform, partners are collectively saving over $40 million per year in transaction-related costs—money that can be redirected toward operations and growth.
This latest trade builds on previous AgriDex transactions involving commodities like olive oil, wine, coffee, and livestock. The platform’s goal is to reduce the inefficiencies that continue to affect the $2.7 trillion agriculture sector, including slow settlements, high fees, and complex banking processes.
By cutting out middlemen and enabling faster access to capital, AgriDex argues that blockchain could play a broader role in improving how agricultural businesses operate across borders.
You might also like: Exclusive: Blocksquare’s new interface boosts RWA experience
