In a significant move blending healthcare and blockchain technology, Florida-based pharmaceutical distributor Wellgistics Health (WGRX) has announced plans to integrate $XRP , a digital asset, into its financial operations. This initiative is part of a $50 million financing deal aimed at enhancing real-time payment capabilities within the company's pharmacy network.
Wellgistics has secured an equity line of credit to support the development of XRP-based reserves and infrastructure. The company intends to utilize $XRP to streamline transactions across its network, manage vendor payouts efficiently, and issue credit lines backed by the digital asset.
By adopting XRP, which facilitates transactions in 3-5 seconds, Wellgistics aims to overcome traditional banking delays and reduce settlement costs to mere fractions of a cent. This swift transaction capability is expected to enhance compliance, rebate tracking, and auditability through the XRP Ledger's real-time logging features.
The financing is being provided by New York-based LDA Capital. While specific timelines for the implementation of $XRP services have not been disclosed, Wellgistics' move positions it among the few publicly listed U.S. companies actively incorporating digital assets into their financial systems.
This strategic adoption of blockchain technology underscores a growing trend of integrating digital assets into traditional industries to improve efficiency and transparency.
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