Nasdaq-Listed Pharma Distributor Launches XRPL-Powered Payment System

Wellgistics Health Inc. is deploying an XRP Ledger-based fee system for 1000’s of pharmacies throughout the United States, deepening its wager on blockchain because it appears to be like to overtake healthcare finance.

The Nasdaq-listed distributor (WGRX) has introduced that its new platform permits unbiased pharmacies to pay for drug stock and transfer funds immediately, bypassing banking delays and excessive bank card charges.

Integrated with RxERP, a serialized pharmaceutical e-commerce and enterprise useful resource planning system, this system guarantees real-time monitoring, decrease prices, and direct settlement between pharmacies and distributors. Pharmacies can now enroll within the beta model of this system.

The system is constructed on the XRP Ledger (XRPL), an open-source blockchain with core growth led by Ripple Labs.

With a community of greater than 6,500 pharmacies and 200 producers, Wellgistics is without doubt one of the first healthcare firms to launch an XRPL fee resolution at scale. The agency’s CEO, Brian Norton, mentioned pharmacy homeowners have embraced the initiative, calling them extra forward-thinking on blockchain than many within the business assume.

The program permits pharmacies to settle invoices over XRPL, although Wellgistics has not disclosed whether or not contributors should maintain XRP instantly or use fiat-to-XRP conversions for settlement.

The program was designed to satisfy strict compliance requirements, together with HIPAA and anti-money laundering necessities. After the pharmacy roll-out, Wellgistics plans to increase the platform to producers and take a look at direct-to-patient packages, permitting drugs to be shipped from drugmakers on to sufferers below doctor oversight.

The initiative builds on a May 8 announcement that Wellgistics intends to make use of XRP not only for funds but additionally as a treasury reserve asset. That plan is backed by a $50 million fairness line of credit score, which administration mentioned would help programmable liquidity and on-demand monetary infrastructure throughout its healthcare community.

Founded as Wellgistics LLC in 2016, the corporate was acquired by Danam Health in September 2024 earlier than being spun off by means of an preliminary public providing in February 2025. Today, Wellgistics Health operates as a standalone Nasdaq-listed entity, offering wholesale distribution, prescription routing, and AI-powered hub providers to pharmacies nationwide.

Shares have dropped greater than 80% for the reason that February debut. They closed Tuesday at $0.62, down 7%, earlier than rising to $0.65 in after-hours buying and selling. The firm’s present market cap is round $47 million.

By linking pharmacy funds to the XRP Ledger whereas getting ready to carry XRP on its stability sheet, Wellgistics is aiming to place itself as each a person and monetary backer of the blockchain.