Solana-based platform AgriDex has successfully completed its first onchain coffee trade, potentially revolutionizing agricultural commodity transactions. UK coffee brand Tiki Tonga exported coffee to South Africa, settling payments instantly in British pounds with only a 0.5% fee, compared to the usual 5-7% for cross-border trades. This blockchain approach not only cuts costs but also simplifies documentation and compliance.

AgriDex also facilitates instant settlements for other commodities like livestock and wine, with $4.5 billion in pending transactions. Recently, the platform raised $9 million from backers including Citadel and Goldman Sachs.