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Pharmaceutical giant moves to XRP: $50 million crypto move!
Florida-based drug distribution company Wellgistics announced that it will use XRP as both a payment method and a treasury reserve asset. The company provided a $50 million stock credit to support this transition.
According to the statement, Wellgistics aims to reduce transaction times to seconds and lower costs for pharmacies, suppliers, and manufacturers in international money transfers by integrating XRP. While transaction times in traditional wire transfers usually take up to 3 days, fees range from 10 to 30 dollars. The company emphasized that this system would enable globally compatible, fast, and low-cost transactions.
Wellgistics CEO Brian Norton stated, "We challenge the idea that healthcare should be tied to slow-moving, intermediary-filled systems." Norton also emphasized that success in the healthcare sector should now be sought in fast infrastructure and efficient digital systems, saying, "We support infrastructure, not inertia."
The company plans to use the $50 million credit line not only for XRP integration but also to explore programmable liquidity solutions and optional payment models specifically for the healthcare sector.
Published: May 9, 2025 16:03