Wellgistics, a pharmaceutical distribution company in the US, has secured a $50 million credit line to integrate XRP for payments and treasury management.
XRP will be used for real-time payments and as a reserve asset to expedite cross-border transactions across the pharmaceutical supply chain, replacing traditional wire transfers with high fees and longer settlement times.
The move by Wellgistics marks a significant adoption of XRP in the healthcare industry, aiming to enhance efficiency in payments for pharmacies, suppliers, and manufacturers.
The $50 million credit line will also enable Wellgistics to explore additional financial innovations, signaling a shift towards blockchain technology and digital assets in traditional industries.