While XRP adoption by companies has been rapidly increasing lately, the latest news came from Nasdaq-listed healthcare infrastructure company Wellgistics Health.
Wellgistics Health, a Nasdaq-listed pharmaceutical distribution and healthcare infrastructure company, announced in a press release that it will launch a new initiative to adopt XRP as a reserve asset and additionally utilize Ripple’s real-time payments infrastructure.
In order to support its XRP payments initiative, Wellgistics plans to launch a $50 million equity line of credit (ELOC) program.
The company stated that it will integrate ATM and related technologies into its payment network with the aim of facilitating transactions between pharmacies, medical equipment suppliers, and prescription drug manufacturers using XRP.
The company also said that the healthcare industry has long been criticized for its slow payments, high fees, and legacy systems, but with XRP, that will change. At this point, the company aims to speed up merchant payments, automate pharmacy reimbursements, and improve financial access across the supply chain by integrating XRP with Ripple’s blockchain network.
Instead of waiting days for payments to be processed, Wellgistics Health will use XRP to send money in just 3 seconds. This means less delays, fewer errors, and a much smoother process. At this point, the company added that it prefers XRP because it is faster, has lower fees, is more flexible and transparent.
Wellgistics Health said that if the initiative is successful, it will become the first public company to hold XRP as reserves.
This is not investment advice.