A Florida pharmaceutical firm plans to adopt XRP for instant payments in its $50M financing deal.

A Florida-based pharmaceutical distribution company is embracing XRP as a key asset for its treasury and payment systems, integrating it into a $50 million financing deal.

Wellgistics Health (WGRX) announced Thursday that it has secured an equity line of credit aimed at building XRP-based reserves and infrastructure to enable real-time payments across its network.

The company intends to use XRP for settling transactions throughout its pharmacy ecosystem, managing vendor payouts, and issuing credit lines that will be backed by XRP. This makes Wellgistics one of the first publicly listed companies in the U.S. to fully integrate XRP into its operational and financial infrastructure.

According to Wellgistics, utilizing XRP will help the company overcome persistent challenges in pharmaceutical supply chains, such as long banking delays and high transaction costs.

“By incorporating XRP and its related infrastructure into our healthcare operations, we are unlocking numerous benefits,” the company said in a press release.

XRP offers settlement times of just 3-5 seconds, compared to the 1-3 days required by traditional methods like ACH or wire transfers. This speed enables near-instantaneous transactions between pharmacies, suppliers, and manufacturers, greatly improving efficiency. Additionally, all transactions are recorded on the XRP Ledger, ensuring real-time compliance, rebate tracking, and a transparent audit trail. The use of XRP will also enable cost-effective global vendor payouts with competitive foreign exchange rates.

The credit facility for this initiative is provided by New York’s LDA Capital, though the company did not specify when XRP-based services would begin to be implemented.