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Tokenization Drives Global Agricultural Trade with Blockchain Tokenization of real-world assets enables cheaper and faster transactions in agricultural trade.
Agridex reduces fees and settlement times by facilitating instant operations on blockchain.
Agriculture on blockchain eliminates costly intermediaries, benefiting farmers and buyers.
The Solana (SOL) based platform for real-world assets (RWA), Agridex, has completed its first on-chain coffee transaction. This achievement could pave the way for cheaper transactions in agricultural product trade.
The operation was carried out by Tiki Tonga Coffee, a UK coffee brand, which exported premium coffee from its home country to South Africa. The payment was made in South African rands and settled in British pounds using Agridex's blockchain technology.
Tiki Tonga claimed that the transaction had a fee of just 0.5%, significantly lower than the average 5%–7% in traditional cross-border transactions for agricultural products. Additionally, the settlement was instant, in contrast to traditional times of five to twelve days.
Besides coffee, the Agridex platform facilitates instant settlements for other agricultural products such as livestock, wine, and olive oil. According to the company, it currently has $4.5 billion in pending transactions from agricultural partners.
Agridex reduces fees and settlement times by facilitating instant operations on blockchain.
Agriculture on blockchain eliminates costly intermediaries, benefiting farmers and buyers.
The Solana (SOL) based platform for real-world assets (RWA), Agridex, has completed its first on-chain coffee transaction. This achievement could pave the way for cheaper transactions in agricultural product trade.
The operation was carried out by Tiki Tonga Coffee, a UK coffee brand, which exported premium coffee from its home country to South Africa. The payment was made in South African rands and settled in British pounds using Agridex's blockchain technology.
Tiki Tonga claimed that the transaction had a fee of just 0.5%, significantly lower than the average 5%–7% in traditional cross-border transactions for agricultural products. Additionally, the settlement was instant, in contrast to traditional times of five to twelve days.
Besides coffee, the Agridex platform facilitates instant settlements for other agricultural products such as livestock, wine, and olive oil. According to the company, it currently has $4.5 billion in pending transactions from agricultural partners.
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