Wellgistics Health Launches XRP Ledger Payment System for Pharmacies
Wellgistics Health Inc. is launching an XRP Ledger-based payment system for independent pharmacies across the U.S. The initiative aims to streamline healthcare finance by allowing pharmacies to pay for drug inventory and transfer funds instantly, avoiding banking delays and credit card fees.
- The platform integrates with RxERP for real-time tracking and direct settlement.
- More than 6,500 pharmacies are expected to participate in the beta version.
- The system meets compliance standards, including HIPAA and anti-money laundering requirements.
- Future plans include expanding the platform to manufacturers and testing direct-to-patient shipping of medications.
- Wellgistics also intends to use XRP as a treasury reserve asset, supported by a $50 million equity line of credit.
- Shares have decreased over 80% since February, closing at $0.62 before rising to $0.65 in after-hours trading.
This strategy positions Wellgistics as a pioneering healthcare company utilizing crypto for operational payments and treasury management.