XRP Ledger Used by Nasdaq-Listed Pharma Distributor to Power Payment System for Pharmacies

Wellgistics Health Inc. is deploying an XRP Ledger-based outgo strategy for thousands of pharmacies crossed the United States, deepening its stake connected blockchain arsenic it looks to overhaul healthcare finance.

The Nasdaq-listed distributor (WGRX) has announced that its caller level enables autarkic pharmacies to wage for cause inventory and determination funds instantly, bypassing banking delays and precocious recognition paper fees.

Integrated with RxERP, a serialized pharmaceutical e-commerce and endeavor assets readying system, the programme promises real-time tracking, little costs, and nonstop colony betwixt pharmacies and distributors. Pharmacies tin present enroll successful the beta mentation of the program.

The strategy is built connected the XRP Ledger (XRPL), an open-source blockchain with halfway improvement led by Ripple Labs. With a web of much than 6,500 pharmacies and 200 manufacturers, Wellgistics is 1 of the archetypal healthcare companies to motorboat an XRPL outgo solution astatine scale. Chief Executive Brian Norton said pharmacy owners person embraced the initiative, calling them much forward-thinking connected blockchain than galore successful the manufacture assume.

The programme enables pharmacies to settee invoices implicit XRPL, though Wellgistics has not disclosed whether participants indispensable clasp XRP straight oregon usage fiat-to-XRP conversions for settlement.

The programme was designed to conscionable strict compliance standards, including HIPAA and anti-money laundering requirements. After the pharmacy rollout, Wellgistics plans to widen the level to manufacturers and trial direct-to-patient programs, allowing medications to beryllium shipped from drugmakers straight to patients nether doc oversight.

The inaugural builds connected a May 8 announcement that Wellgistics intends to usage XRP not conscionable for payments but besides arsenic a treasury reserve asset. That program is backed by a $50 cardinal equity enactment of credit, which absorption said would enactment programmable liquidity and on-demand fiscal infrastructure crossed its healthcare network.

Founded arsenic Wellgistics LLC successful 2016, the institution was acquired by Danam Health successful September 2024 earlier being spun disconnected done an archetypal nationalist offering successful February 2025. Today, Wellgistics Health operates arsenic a standalone Nasdaq-listed entity, providing wholesale distribution, medicine routing, and AI-powered hub services to pharmacies nationwide.

Shares person dropped much than 80% since the February debut. They closed Tuesday astatine $0.62, down 7%, earlier rising to $0.65 successful after-hours trading.

By linking pharmacy payments to the XRP Ledger portion preparing to clasp XRP connected its equilibrium sheet, Wellgistics is positioning itself arsenic some a idiosyncratic and fiscal backer of the blockchain. The dual-pronged attack marks a uncommon lawsuit of a publically traded healthcare institution integrating crypto into some operations and treasury management.