XRP News Today: Wellgistics Deploys XRP Ledger for U.S. Pharmacy Payments to Cut Costs and Boost Compliance

Wellgistics Health has launched a blockchain-based payment system for independent U.S. pharmacies, enabling the use of Ripple’s XRP Ledger to facilitate prescription drug transactions. The system, developed in collaboration with pharmaceutical software provider RxERP, supports more than 6,500 pharmacies and offers an alternative to traditional bank transfers for wholesale drug purchases [1]. This implementation allows pharmacies to move funds and record transactions on the XRP Ledger, ensuring transparency and compliance with healthcare and financial regulations, including HIPAA privacy requirements and Anti-Money Laundering (AML) laws [1].

The move reflects growing recognition of blockchain’s potential in the healthcare industry. According to Wellgistics CEO Brian Norton, independent pharmacy owners are increasingly forward-thinking, recognizing how blockchain can transform the industry as it scales [1]. The adoption of XRP-based payments is not only about faster and more efficient transactions but also about reducing the reliance on traditional financial systems, which can be slow and costly.

The initiative is part of a broader trend of blockchain adoption in healthcare since 2023. The technology is being explored for its ability to streamline processes such as drug development and clinical trials. Decentralized science (DeSci) projects, for example, are emerging as a viable model to cut costs and accelerate innovation in the biopharma sector [1]. Meanwhile, the decentralized clinical trials segment is forecast to grow significantly in the coming years, according to market research [1].

Wellgistics’ initiative also highlights the increasing interest among healthcare entities in digital assets. In recent months, companies like Prenetics Global Limited have implemented Bitcoin treasury strategies, while Basel Medical Group in Singapore has announced plans to establish a Bitcoin reserve [1]. These developments suggest a shift in how healthcare companies view and utilize digital assets—not just for payments, but as part of their broader financial strategies.

However, challenges remain. Regulatory hurdles, such as those under the EU’s GDPR, have delayed the implementation of blockchain in healthcare in certain markets, underscoring the need for continued dialogue between industry players and regulators [1]. Despite these obstacles, the integration of blockchain and other Web3 technologies is expected to continue, reshaping how healthcare services are delivered and funded.

Wellgistics’ XRP-based system represents a significant milestone in the application of blockchain to meet industry-specific compliance standards while delivering operational efficiencies. As adoption grows, the healthcare sector is likely to see more use cases emerge, further integrating digital assets and decentralized technologies into everyday operations [1].

Source: [1] Cointelegraph (https://cointelegraph.com/news/wellgistics-enables-xrp-payments-us-pharmacies) [2] Crypto (https://cryptonews.net/news/altcoins/31438366/)