AgriDex Completes First On-Chain Farmland Transaction on Solana

AgriDex has announced the successful completion of the first on-chain farmland transaction on the Solana network.

The deal involved a land purchase in Zambia costing $165,000. It was settled immediately, without costs, using AgriDex’s digital settlement system. AgriDex is a platform based on Solana (SOL) focused on real-world assets, particularly in the global agricultural industry.

The payment was made from a buyer to Sustainable Agricultural Development in Mauritius, showcasing how blockchain can facilitate cross-border transactions, making large-scale deals cheaper and quicker.

Traditional bank transfers can take several days and incur high costs. In contrast, AgriDex uses Solana’s infrastructure, renowned for speedy processing and low costs, offering an alternative model for 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.”

A $2.7 Trillion Industry

AgriDex is preparing to process an additional $2.6 million in farmland deals in the coming weeks. The company claims that partners save over $40 million yearly in transaction-related costs by using its platform—funds that can be redirected toward operations and growth.

This recent trade builds on prior AgriDex transactions involving commodities such as olive oil, wine, coffee, and livestock. The platform aims to address inefficiencies in the $2.7 trillion agriculture sector, such as slow settlements and high fees.

By eliminating middlemen and enabling faster capital access, AgriDex believes that blockchain can significantly enhance how agricultural businesses operate globally.