Healthcare Corporation Adopts XRP as Part of Cryptocurrency Reserves in Financial Holdings
** entitled Healthcare Revolution: Wellgistics Health Eyes XRP Treasury for Payment Infrastructure
Get the scoop from SCENETampa-based healthcare infrastructure company, Wellgistics Health, is venturing into the crypto realm by adopting XRP for its payment infrastructure and incorporating the digital asset into its corporate treasury. This move puts the firm in the growing list of U.S. public companies embracing digital assets.
In a press release Thursday, Wellgistics Health revealed its plans to create a blockchain-powered platform that connects manufacturers directly to pharmacies, bypassing red tape and returning control to those who deliver care. The platform, which is in development, aims to reduce costs, speed up transactions, and promote financial transparency across its network.
"We're building a platform that bridges manufacturers, pharmacies, and patients, eliminating obstacles and empowering caregivers," said Wellgistics Health CEO, Brian Norton.
Currently, XRP trades at $2.35, up 5% in the past day, according to data from CoinGecko. The firm plans to fund its XRP initiatives using a $50 million equity line of credit, yet the breakdown of this allocation remains unclear.
The company's foray into blockchain-powered payments echoes the increasing interest among publicly traded companies in dabbling with digital assets and distributed ledger technology. Steak 'n Shake recently announced it would accept Bitcoin nationwide, while Stripe introduced support for USDC transactions through Ethereum and Solana, and rolled out stablecoin payment options.
Several companies have also added cryptocurrencies to their treasuries, mimicking Michael Saylor-led software firm Strategy's accumulation of billions in Bitcoin. Workspot and Janover, for example, have announced plans to stack millions of dollars' worth of Solana.
Wellgistics Health intends to leverage XRP to facilitate credit lines for independent pharmacies, eliminating foreign transaction and wire costs, and automatically calculating drug rebates based on real-world data.
"The winners in healthcare won't be those with the biggest buildings," Norton emphasized. "They'll be those with the fastest rails, cleanest data, and most efficient platforms. We're wagering on infrastructure, not inertia."
While the exact implementation of Wellgistics Health's XRP-based payment infrastructure is still under wraps, its potential to revolutionize the healthcare industry by addressing costs, transaction speeds, and financial transparency is compelling. By connecting manufacturers directly to pharmacies and patients, the platform could streamline the healthcare supply chain, leading to a more responsive and efficient healthcare system.
Edited by James Rubin
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Wellgistics Health's decision to adopt XRP for its payment infrastructure and incorporate it into its treasury has the potential to transform the healthcare industry, addressing challenges in costs, transaction speeds, and financial transparency. By leveraging XRP transactions, the company aims to reduce costs associated with traditional banking systems, improve transaction speeds, and increase financial transparency within its healthcare network. The XRP-powered platform could expedite the flow of funds and enhance operational efficiency, while the real-time transparency provided by the XRP Ledger reinforce compliance and financial integrity.
The company's broader strategy to connect manufacturers directly to pharmacies and patients could lead to a more responsive, efficient, and streamlined healthcare system, benefiting both providers and patients.
Wellgistics Health's initiative is a significant step towards the broader transformation of healthcare infrastructure and represents a growing trend among public companies experimenting with digital assets and blockchain technology, encouraged by recent lawmakers' push for favorable crypto regulations in the U.S.
- Wellgistics Health is utilizing XRP for its payment infrastructure, incorporating the digital asset into its corporate treasury, marking a significant move into the crypto realm.
- The XRP Ledger will reinforce compliance and financial integrity within Wellgistics Health's healthcare network, potentially reducing costs and improving transaction speeds.
- The company's XRP-powered platform aims to connect manufacturers directly to pharmacies and patients, eliminating obstacles and promoting efficiency within the healthcare supply chain.
- The blockchain-powered platform in development by Wellgistics Health will potentially streamline the healthcare system, making it more responsive and efficient.
- The increasing interest among publicly traded companies in digital assets and distributed ledger technology is evident, as indicated by Steak 'n Shake, Stripe, and other firms incorporating crypto into their operations.
- Similar to Michael Saylor-led software firm MicroStrategy, Workspot and Janover have announced plans to add millions of dollars' worth of Solana to their treasuries.
- Wellgistics Health intends to use XRP to facilitate credit lines for independent pharmacies, eliminating foreign transaction and wire costs, while automatically calculating drug rebates based on real-world data.
