Wellgistics Health Integrates XRP Into Its Network as Treasury Reserve and Real-Time Payments Infrastructure

Wellgistics Health Inc. (NASDAQ: WGRX), a pharmaceutical-distribution and healthcare-infrastructure company, will integrate the distributed-ledger–based digital asset XRP into its network as both a treasury reserve and a real-time payments infrastructure.

Wellgistics Health Inc (NASDAQ:WGRX) is integrating the distributed-ledger-based digital asset XRP into its network as both a treasury reserve and a real-time payments infrastructure.

The pharmaceutical-distribution and healthcare-infrastructure company said in an announcement on Monday, 8 May, that the move would help to streamline transactions between pharmacies, prescription medication manufacturers, and medical suppliers.

The initiative would make Wellgistics Health one of the first publicly traded healthcare companies to use XRP in such a manner.

“At Wellgistics, we are relentlessly focused on infusing speed, liquidity, and transparency into a system that has long since been starved of all three,” said Brian Norton, CEO of Wellgistics.

“Our mission is to move beyond legacy systems, bloated intermediaries and slow moving money. We view this new blockchain-enabled system and ledger as the next logical step in healthcare evolution.”

The company’s initiative is supported by a $50 million (AU$78 million) Equity Line of Credit which will be used to fund the further development of programmable liquidity and on-demand financial infrastructure. The aim is to eliminate banking delays, reduce costs and to increase transparency across its healthcare network.

The company also noted several strategic advantages of incorporating XRP into its infrastructure.

For instance, transactions can be settled in 3-5 seconds with XRP, in comparison with the standard 1-3 days it takes with automated clearing houses or wire transfers. This capability enables near real-time payments across the network.

The payments will also cost less than $0.0002 (AU$0.0003) per transfer versus the current price of $10-$30 (AU$15-46$) for ACHI or Fedwire.

As all transactions are logged on the XRP ledger in real time, it provides high levels of transparency within the system for processes such as compliance, rebate tracking, and audits.

On a global scale, XRP will simplify vendor payouts by slashing foreign exchange and wire transfer fees to extend the company’s reach while keeping costs low.

The increased flexibility will enable the company to offer XRP-backed lines of credit to enhance the liquidity of independent pharmacies across the network.

Wellgistics plans to leverage XRP for real-time settlements across the network, the automatic calculation of smart rebates based on real-world data, and an immutable compliance layer supporting the Drug Supply Chain Security Act.

“We are working to unlock capital velocity with surgical precision,” said Mark DiSiena, CFO of Wellgistics.