Ripple News: XRP Gets $50M in Treasuries, Increased Payments from US Healthcare Company
Florida-based pharmaceutical company plans to use XRP to make real-time payments in $50 million financial deal
“We are confident that the introduction of XRP and its associated infrastructure into the healthcare sector will bring certain benefits,” the company said in a press release.
Author: Shaurya Malwa | Edited by: Parikshit Mishra Updated: May 9, 2025 4:53 PM Published: May 9, 2025 7:26 AM
Key points:
- Florida-based pharmaceutical distributor Wellgistics Health is introducing XRP as a treasury and payment asset in a $50 million deal.
- The company plans to use XRP to make instant payments and manage payments to suppliers in its pharmacy network.
- Wellgistics aims to reduce delays in banking transactions and settlement costs by using XRP, which allows transactions to be completed in 3-5 seconds.
A Florida-based pharmaceutical distributor is backing XRP as a treasury and payment asset, putting the token at the center of a $50 million financial deal.
Wellgistics Health (WGRX) announced on Thursday that it has secured a line of credit to support its XRP-based reserves and instant payments infrastructure.
The company intends to use blockchain to conduct transactions in its pharmacy network, manage payments to suppliers, and provide credit lines secured by XRP.
The move makes Wellgistics one of the few publicly listed U.S. companies actively integrating XRP into its financial processes. XRP will help eliminate bank delays and reduce settlement costs to fractions of a cent — two key hurdles in pharmaceutical supply chains.
“We are confident that the introduction of XRP and its associated infrastructure into the healthcare system will bring certain benefits,” the company said in a press release.
“XRP processes transactions in 3-5 seconds, versus 1-3 days for ACH or wire transfers, allowing for near real-time payments between pharmacies, suppliers, and manufacturers. All transactions are recorded on the XRP Ledger for real-time compliance, rebate tracking, and auditability,” the post said, adding that the token will help process payments to suppliers around the world at very low exchange rates.
The credit line is provided by New York-based LDA Capital. No timeline has been given for the launch of XRP-based services.
