Florida Distributor Wellgistics Health Integrates XRP in $50 Million Financing Deal
A Florida pharmaceutical distributor, Wellgistics Health (WGRX), has announced a $50 million financing deal to utilize XRP as a treasury and payments asset.
- The company secured an equity line of credit to support XRP-based reserves and infrastructure for real-time payments.
- Wellgistics plans to use blockchain technology for transaction settlements across its pharmacy network, managing vendor payouts, and issuing credit lines backed by XRP.
- This integration positions Wellgistics as one of the few publicly listed U.S. firms actively using XRP in financial operations.
- XRP aims to reduce banking delays and lower settlement costs significantly.
- Transactions with XRP settle in 3-5 seconds compared to 1-3 days for traditional methods, enhancing efficiency in the supply chain.
- All transactions will be recorded on the XRP Ledger for compliance and auditability.
- The credit facility is provided by LDA Capital, based in New York.
No timeline was given for the launch of XRP-based services.