Florida Pharma Firm Will Use XRP for Real-Time Payments in $50M Financing Deal
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Florida Pharma Firm Will Use XRP for Real-Time Payments in $50M Financing Deal
“We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem,” the firm said in the release.
- 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.
Florida's Wellgistics Health Firm to Utilize XRP for Instant Payments in $50M Funding Agreement
Expressing confidence in the benefits of incorporating XRP and its associated infrastructure into their healthcare system, the company stated in a press release that they believe it offers unique advantages.
In an innovative move, Wellgistics Health, a pharmaceutical distributor from Florida, is embracing XRP as a pivotal treasury and payment asset within a $50 million financial arrangement. The strategy involves leveraging XRP for instantaneous transactions and overseeing vendor payments throughout its pharmacy chain. By utilizing XRP, which finalizes transactions within 3-5 seconds, the firm aims to diminish banking delays and settlement expenses.
Taking the spotlight in a $50 million funding deal, a pharmaceutical distributor based in Florida is endorsing XRP as a critical treasury and payment asset.
Wellgistics Health (WGRX) recently announced its acquisition of an equity line of credit specially designed to bolster XRP-based reserves and infrastructure for real-time payments.
The company's blueprint includes using blockchain technology to settle transactions across their pharmacy network efficiently, manage vendor payouts seamlessly, and introduce credit lines secured by XRP.
This strategic shift positions Wellgistics among the select few publicly traded U.S. companies actively intertwining XRP into their financial framework. By adopting XRP, they anticipate eliminating banking delays and reducing settlement costs significantly - issues that have long plagued pharmaceutical supply chains.
