A Florida-based pharmaceutical distribution company has announced its decision to support XRP technology to strengthen its digital payment infrastructure. Under a financing agreement worth approximately $50 million, XRP is expected to play a significant role in the company’s financial transactions.
Financing Agreement
The company, named Wellgistics Health (WGRX), revealed that it has gained the rights to use equity credits for the establishment of XRP-based reserves and a digital payment infrastructure. The provided credit is seen as a strategic step aimed at strengthening the company’s financial structuring and adapting to digital transformation.
The company plans to use XRP technology for real-time payments within its pharmacy network, manage supplier payments, and establish XRP collateralized credit limits. This approach serves as a significant example of the increased applications of blockchain technology in the healthcare sector.
Transaction Speed and Cost Advantage
Transactions conducted via XRP are expected to complete in an impressively short time of 3-5 seconds. Considering that traditional money transfer methods take 1-3 days, this can enable payments to be completed almost instantly. The extremely low transaction costs can help reduce delays and additional expenses in the supply chain.
In a statement, Wellgistics Health mentioned, “We believe the integration of 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.”
The credit provision agreement is supported by New York-based LDA Capital. This collaboration is seen as a key support element in strengthening financial infrastructure and transitioning to digital payment systems.
The announcement stated that no explicit timeline has been provided for activating XRP-based services. The company expressed its intention to implement the integration gradually in future projects.
The application’s goal is to reduce delays in financial transactions and generate positive impacts on costs. In the digital transformation process, the modernization of payment systems and adherence to transparency principles in the healthcare sector are among the core objectives of this technological transition.
