Florida-based Wellgistics to adopt XRP for payments and treasury reserve with $50 million credit facility

Pharmaceutical distribution company Wellgistics unveiled its strategy to integrate XRP as a real-time payment rail and treasury management asset, becoming one of the first public entities to do so. A Thursday press statement says the Florida firm plans to improve remittance speeds and reduce settlement fees for pharmacies, suppliers, and manufacturers using XRP and its associated blockchain network.

Standard wire transfers typically take up to three days to complete and cost between $10 and $30, with geographical restrictions and transparency issues sometimes involved. The company stated that onboarding XRP should enable global support for much cheaper, compliant cross-border payments finalized in seconds rather than days. XRP fees are under a cent, and transactions can be executed in 3-5 seconds.

"We challenge the idea that healthcare has to be tethered to legacy systems, bloated intermediaries, and slow-moving money,” Wellgistics CEO Brian Norton said on May 8.

Per the announcement, Wellgistics will finance its XRP integration and treasury reserve roadmap through a $50 million ELOC. The credit facility may also back further pathways to explore programmable liquidity and on-demand payment models for the medical industry.

“I believe that the future winners in healthcare won’t be the companies with the biggest buildings…they’ll be those with the fastest rails, cleanest data, and most efficient platforms,” Norton added. “We’re betting on infrastructure…not inertia.”