A Florida-based pharmaceutical distribution company, Wellgistics Health, has announced the incorporation of XRP technology to enhance its payment systems. This decision is part of a $50 million financing agreement.
Financing Agreement
Wellgistics Health (WGRX) revealed that it has gained rights to use credit for establishing XRP-based reserves and digital payment infrastructure. The credit provided is viewed as a strategic move aimed at strengthening the company’s financial structuring and adapting to digital transformation.
Transaction Speed and Cost Advantage
Transactions conducted through XRP are expected to be completed in an impressively short time of 3–5 seconds. In contrast to traditional money transfer methods that can take 1-3 days, this allows payments to be conducted almost instantly. The very low transaction costs help reduce delays and additional expenses in the supply chain.
Future Integration Plans
In a statement, Wellgistics Health noted, "We believe that integrating XRP and related infrastructure into the healthcare ecosystem offers distinct advantages. This technology enables transactions to occur in real time, be recorded transparently, and apply low exchange rates for international supplier payments."
Wellgistics Health's decision to adopt XRP technology illustrates the growing application of blockchain technologies in the healthcare sector, particularly in streamlining payment processes and enhancing transparency.
