Key Takeaways
- AgriDex has introduced Loam, a digital payments platform designed to improve cross-border transactions in the agricultural sector.
- Loam uses stablecoin-based digital infrastructure to support faster and lower-cost payment processing.
- The platform aims to reduce transaction fees—often up to 12.6% in traditional systems—and improve settlement times.
- AgriDex has set a target of $40 million in transaction volume by the end of 2025.
- The system is designed for accessibility, with features intended to serve a wide range of users, including smallholder farmers and traders.
AgriDex Launches Loam to Address Payment Challenges in Agriculture
Focus on Faster, Lower-Cost International Transactions
AgriDex (Profile) has announced the launch of Loam, a digital payments platform developed to improve the efficiency of cross-border transactions in agriculture. Loam employs stablecoin technology to enable faster payment processing and aims to reduce the transaction costs often associated with traditional banking systems.
Conventional international payment systems, especially for agricultural commodities, can involve multiple intermediaries, long settlement times, and high fees. According to AgriDex, for some shipments—such as cocoa traded from Nigeria to Rotterdam—transaction costs can account for over 12% of the total trade value.
New AgriDex Platform Capabilities and Features
Digital Infrastructure for Secure and Timely Settlements
Loam is designed to settle payments in less than five seconds, with associated fees of under 0.5%. It includes automated invoice processing, support for multiple currencies, and user verification to create a secure and traceable transaction environment.
The platform is intended to address financial inefficiencies within the food supply chain and support participants ranging from smallholder producers to larger traders.
“Loam allows seamless cross-border transactions, helping producers, traders, and buyers operate more efficiently,” said Henry Duckworth, CEO and Founder of AgriDex.
Usability and Design Considerations
Targeting Accessibility Across the Supply Chain
Loam is built with user accessibility in mind, featuring a simplified interface and PIN-based security. The system is designed to accommodate users with varying levels of technical expertise, with functions such as deposit, withdrawal, and payment tools presented through an intuitive user interface.
AgriDex states that the platform supports multi-currency transactions and aims to create a trusted environment for agricultural stakeholders conducting international trade.
AgriDex Expansion Goals and Market Context
Targeting $40 Million in Transaction Volume
AgriDex has set a target of reaching $40 million in transaction volume on the Loam platform by the end of the year. The company views Loam as part of a broader effort to streamline agricultural trade and respond to challenges related to payment speed, cost, and access, particularly in developing regions.
The initiative reflects the growing interest in applying digital payment technologies to enhance efficiency in global supply chains, including food and agricultural commodities.
