AgriDex executes first on-chain farmland deal on Solana network

Agridex announced that the first agricultural land transaction on the chain on the Solana network was successfully completed.

The agreement consists of a purchase of $ 165,000 in Zambia. The purchase was settled immediately free of charge using the Agridex digital regulation system. Agridex is a Solana (GROUNDThe platform based on) has focused on active world assets by emphasizing the global agricultural industry.

Payment was transferred from a buyer to sustainable agricultural development in Mauritius. This is a real example of how blockchain Can facilitate cross -border transactions, making large -scale offers cheaper and faster.

In comparison, standard banking transfers can take several working days to be completed and at a high cost. Using Solana’s infrastructure, known for rapid treatment and low costs, Agridex offers an alternative model to facilitate agricultural trade.

“For the first time, an agricultural land contract was exchanged and settled on the blockchain,” said Henry Duckworth, co-founder and CEO of Agridex. “This establishes a precedent to improve the way in which agricultural real estate is exchanged and funded.”

A 2.7 -dollar industry industry

Agridex says that it is preparing to treat an additional $ 2.6 million in agricultural land transactions in the coming weeks. The company also claims that by using its platform, partners collectively save more than $ 40 million per year in costs linked to transactions – a maximum that can be redirected to operations and growth.

This last trade relies on previous Agridex transactions involving products such as olive oil, wine, coffee and livestock. The objective of the platform is to reduce the ineffectiveness that continue to allocate the agricultural sector by 2.7 billions of dollars, including slow establishments, high costs and complex banking processes.

By removing intermediaries and allowing faster access to capital, Agridex maintains that blockchain could play a wider role in improving the operation of agricultural businesses through borders.