Wellgistics Deploys XRP Ledger-Based Payment System for Pharmacies

Wellgistics Health Inc. is using the XRP Ledger for its new payment system for pharmacies across the US. The system enables instant payments and bypasses banking delays and high credit card fees. Built on the XRP Ledger, the system is integrated with RxERP and promises real-time tracking, lower costs, and direct settlement between pharmacies and distributors. Wellgistics has a network of over 6,500 pharmacies and 200 manufacturers, making it one of the first healthcare companies to launch an XRPL payment solution at scale.

Wellgistics Health Inc. (WGRX) has announced the deployment of an XRP Ledger-based payment system for thousands of pharmacies across the United States. This innovative system aims to streamline payments and reduce costs, leveraging the XRP Ledger's (XRPL) instant and low-cost transaction capabilities. The new platform integrates with RxERP, a serialized pharmaceutical e-commerce and enterprise resource planning system, promising real-time tracking, lower costs, and direct settlement between pharmacies and distributors.

The system enables independent pharmacies to pay for drug inventory and move funds instantly, bypassing traditional banking delays and high credit card fees. With a network of over 6,500 pharmacies and 200 manufacturers, Wellgistics is one of the first healthcare companies to launch an XRPL payment solution at scale. The initiative was designed to meet strict compliance standards, including HIPAA and anti-money laundering requirements [1].

Wellgistics Health's CEO, Brian Norton, expressed optimism about the adoption of blockchain technology in the pharmacy sector. "Independent pharmacy owners are far more forward-thinking than many realize," he said. "They see the power of blockchain and understand how transformative this will be as it scales across the industry" [1].

The XRP Ledger payment system is part of a broader strategy by Wellgistics to use XRP for treasury management and capital raising. The company has filed an S-1 registration with the SEC, outlining its plans to leverage XRP and the XRPL for transparent capital movement. Following the pharmacy rollout, Wellgistics plans to extend the platform to manufacturers and test direct-to-patient programs, allowing medications to be shipped directly to patients under physician oversight [2].

The implementation of the XRP Ledger payment system underscores the growing interest in cryptocurrency within the healthcare industry. Several healthcare entities have added digital assets to their corporate treasuries in recent months, demonstrating a shift towards blockchain technology for financial transactions [3].

References:
[1] https://cointelegraph.com/news/wellgistics-enables-xrp-payments-us-pharmacies
[2] https://coinedition.com/wellgistics-health-launches-xrp-ledger-payment-system-for-6500-pharmacies/
[3] https://finance.yahoo.com/news/xrp-ledger-used-nasdaq-listed-110044388.html