Florida Pharma Firm Will Use XRP for Real-Time Payments in $50M Financing Deal
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Shaurya Malwa
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By Shaurya Malwa|Edited by Parikshit Mishra
May 9, 2025, 7:26 a.m.
- A Florida pharmaceutical distributor, Wellgistics Health, is integrating XRP as a treasury and payments asset in a $50 million financing deal.
- The company plans to use XRP for real-time payments and to manage vendor payouts across its pharmacy network.
- Wellgistics aims to reduce banking delays and settlement costs by using XRP, which settles transactions in 3-5 seconds.
A Florida-based pharmaceutical distributor is backing XRP as a treasury and payments asset, putting the token at the center of a $50 million financing deal.
Wellgistics Health (WGRX) said Thursday it had secured an equity line of credit to support XRP-based reserves and infrastructure for real-time payments.
STORY CONTINUES BELOW
The company plans to use the blockchain to settle transactions across its pharmacy network, manage vendor payouts, and issue credit lines backed by XRP.
The move makes Wellgistics one of the few publicly listed U.S. firms to actively integrate XRP into its financial operations. XRP will help eliminate banking delays and lower settlement costs of fractions of a cent, two key resistance points in pharmaceutical supply chains.
“We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem,” the firm said in the release.
“XRP settles transactions in 3-5 seconds vs. 1-3 days for ACH or wire transfers, allowing for near real-time settlement among pharmacies, suppliers, and manufacturers. All transactions are logged on the XRP Ledger for real-time compliance, rebate tracking, and auditability,” it said, adding that the token will help process global vendor payouts at very low foreign exchange rates.
The credit facility is being provided by New York-based LDA Capital. No timeline was provided for the XRP-based services would actually begin.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
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