Wellgistics Integrates XRP into Treasury Management with $50 Million Commitment
Wellgistics Health, Inc. has filed to adopt XRP as part of its treasury management, committing up to $50 million. This makes Wellgistics the first U.S.-listed healthcare firm to integrate XRP into its operations.
Key Developments
- Wellgistics secured a $50 million Equity Line of Credit from LDA Capital to gradually increase its XRP holdings.
- The company plans to use XRP for issuing debt and other capital instruments while building reserves that could serve as loan collateral.
- Wellgistics aims to create a payment system utilizing the XRP Ledger (XRPL) for faster and cost-efficient transactions, particularly for over 6,000 pharmacies.
- Ripple Labs has applied for a U.S. national banking license, facing delays initiated by five major U.S. banks.
XRP Price Movement
- XRP's price rose to $3.19, reflecting a 2.18% gain amid recent fluctuations.
- Increased adoption may pressure XRP supply, influencing long-term pricing dynamics.
- Regulatory clarity is improving, making XRP more appealing to businesses.
Overall, Wellgistics' move is seen as potentially influential in the broader market, possibly encouraging further corporate adoption of XRP.