AgriDex, a Solana-primarily based agricultural marketplace, says it has processed more than $9 million in stablecoin-powered trades to this level as it seeks to carry blockchain payments to the $2.7 trillion world agricultural market.
The milestone comes after a $1.5 million execrable-border deal in grain and fertilizer changed into done on the platform by African agricultural commodity trading firm Graintrade, masking Zimbabwe, Mozambique, and South Africa, AgriDex suggested The Defiant.
“Agricultural companies across Africa are constrained by inefficiencies, which tie up working capital and erode margins. By enabling instantaneous, low-save settlement, AgriDex gives producers and merchants in growing markets admire Africa the support they must grow,” said Henry Duckworth, AgriDex’s CEO.
Settled in Circle’s USDC stablecoin, the exchange skipped the in model three- to 5-day banking delays and excessive banking expenses that advance with typical execrable-border payments. Graintrade CFO Morkel van Tonder said the facility to circulation $1.5 million the an identical day “is transformative for regional agri-exchange.”
Talking with The Defiant, Duckworth defined that farmers and merchants “don’t need any prior expertise with crypto to exercise the platform,” collectively with that from their level of view, it’s a “uncomplicated exchange platform the put they’ll exchange and settle straight away in stablecoins, without a must interact with technical blockchain processes.”
On-Chain Agriculture
Basically based entirely in London, AgriDex supplies providers and products across seven African markets, collectively with Kenya, South Africa, Zambia, Botswana, Nigeria, and Mauritius. Whereas Africa is AgriDex’s foremost heart of attention at the present time, the corporate is also making able to lengthen into Latin The US and Central Asia, with rollouts planned to launch in Q2 2026, Duckworth printed.
“Every regions face similar challenges round execrable-border exchange, excessive expenses, and gradual settlement, so we glance stable doable to replicate our model there,” he defined.
This isn’t AgriDex’s simplest on-chain exchange. In July 2024, the platform also completed a exchange on Solana, masking the cargo of more than 200 bottles of olive oil and cases of wine from South Africa to London.
Beyond executing trades in stablecoins, Duckworth says the platform gives attend for “hedging towards fluctuations in native African currencies by offering yielding stablecoin accounts.” AgriDex’s CEO defined:
“This gives merchants a reliable buck-backed solution to maintain cost, while aloof enabling them to organize liquidity wishes across more than one currencies.”
In December 2024, AgriDex raised $4 million in a strategic funding round led by Portal Ventures. The funding alive to equity and token investments and gave the Solana-primarily based startup a submit-cash valuation of $28.5 million.
