Wellgistics Health has launched a blockchain-based XRP payment program for over 6,500 independent pharmacies across the United States. This program, developed in collaboration with Ripple Labs, enables pharmacies to make payments instantly using the XRP Ledger, significantly reducing transaction times from days to seconds and lowering fees compared to traditional banking etc.
Key highlights of the program include:
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Instant settlement of payments in seconds via XRP transfers.
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Lower transactional fees and elimination of delays typically experienced in invoice settlements.
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Full transparency and compliance with healthcare and financial regulations, such as anti-money laundering (AML) standards etc.
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The program is currently in beta mode, where it facilitates transactions between pharmacies, medicine manufacturers, and distributors.
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Plans to expand the payment system to pharmaceutical manufacturers and introduce direct-to-patient shipping programs in the future.
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Ripple Labs oversees onboarding, transactions, and reporting for the program.
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Wellgistics Health serves over 6,500 independent pharmacies and more than 200 manufacturers, making this one of the first large-scale implementations of blockchain payment solutions in healthcare.
Brian Norton, CEO of Wellgistics Health, emphasized the transformational potential of blockchain technology for independent pharmacies and highlighted the initiative's role in eliminating costly delays and intermediaries while ensuring real-time payments and compliance.
The program is currently open for enrollment by pharmacies through Wellgistics Health’s website and aims to provide round-the-clock payment availability once fully rolled out.
This marks an innovative step in integrating digital asset payments within the pharmacy supply chain, presenting a more efficient, cost-effective, and transparent payment solution for the healthcare industry.
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