XRP News Today: Wellgistics Launches XRP-Based Payment System for 6500 US Pharmacies

Wellgistics Health, a Nasdaq-listed pharmacy distributor, has launched a payment system based on the XRP Ledger (XRPL), a blockchain supported by Ripple Labs, for thousands of U.S. pharmacies. The platform is designed to enable instant and low-cost fund transfers for drug inventory, bypassing traditional banking delays and high fees that often burden independent pharmacies [1]. The rollout, which includes over 6,500 pharmacies and 200 manufacturers, integrates with RxERP, a serialized pharmaceutical e-commerce platform, offering real-time tracking and direct settlement between pharmacies and distributors [1].

The initiative, which is currently in a beta phase, marks one of the first large-scale blockchain deployments in the healthcare sector and aims to meet compliance standards such as HIPAA and anti-money laundering (AML) regulations [1]. CEO Brian Norton has noted a stronger-than-expected response from pharmacy owners, who are described as more open to blockchain technology than many industry participants might assume [1]. The company has not yet disclosed whether pharmacies will be required to hold XRP directly or use fiat-to-XRP conversion for settlement [1].

Wellgistics’ adoption of XRP extends beyond payments. In May, the company announced it would use XRP as both a payment rail and a treasury reserve asset, supported by a $50 million equity line of credit. This move is part of a broader strategy to build programmable liquidity and on-demand infrastructure across its healthcare network [1]. The company, which was acquired by Danam Health in 2024 before being spun off through an IPO in February 2025, provides wholesale distribution, prescription routing, and AI-powered hub services to pharmacies nationwide [1].

Despite the strategic deployment of blockchain technology, the company’s stock has performed poorly since its market debut. Shares have dropped more than 80%, closing at $0.62 on one day before rising slightly to $0.65 in after-hours trading, giving the firm a market cap of around $47 million [1]. The company is planning to expand the XRP-based payment system beyond pharmacies to include manufacturers and potentially launch direct-to-patient programs, where medications could be shipped directly from drugmakers to patients under physician supervision [1].

Meanwhile, the XRP Ledger itself has undergone a major upgrade. RippleX, the development arm of Ripple, released version 2.5.0 of the XRP Ledger, introducing enhancements to token management and transaction processing. The XLS-85 amendment, for instance, allows third-party issued tokens and introduces multi-purpose tokens for institutional use [1]. The XRP Ledger has also seen a surge in user activity, with daily active addresses rising from an average of 35,000 to over 295,000 [1].

Wellgistics' move to adopt XRP in the pharmacy sector reflects a growing interest in blockchain-based payment solutions in traditionally slow-moving industries. By leveraging the XRP Ledger’s speed and compliance features, the company aims to streamline operations and reduce costs for independent pharmacies. However, the significant drop in its stock price since its IPO raises questions about investor confidence in the company's overall business strategy and execution, regardless of the technological innovation it is pursuing [1].

Source:

[1] Wellgistics Rolls Out XRP Ledger Payments for Thousands of US Pharmacies (https://cryptonews.com/news/wellgistics-rolls-out-xrp-ledger-payments-for-thousands-of-us-pharmacies/)