Florida-based Wellgistics Health (WGRX) is integrating XRP into its financial operations. The pharmaceutical distributor secured a $50 million equity line of credit on Thursday to support XRP-based reserves and real-time payments infrastructure. This move positions XRP at the center of the company's financial strategy.
Wellgistics plans to use XRP to settle transactions across its pharmacy network and manage vendor payouts. The company also intends to issue credit lines backed by XRP. This integration aims to eliminate banking delays and reduce settlement costs.
According to the company, XRP settles transactions in 3-5 seconds, compared to 1-3 days for ACH or wire transfers. All transactions will be logged on the XRP Ledger for real-time compliance and auditability. The credit facility is provided by LDA Capital.
This article is based on our author's analysis of materials taken from the following resource: Coindesk.