Pharmaceutical distributor Wellgistics has revealed its plan to include XRP as an instant payment system and treasury management tool. This move makes the company one of the first publicly traded entities to adopt this approach.

Wellgistics Adopts XRP to Slash Settlement Times from Days to Seconds

In its official statement, the Florida-based company stated that it would use XRP and its blockchain network to reduce settlement fees and boost remittance speeds for suppliers, manufacturers, and pharmacies.

Besides transparency issues and geographical limitations, it usually takes three days for standard wire transfers to be completed. Hence, the company aims to make these transactions cheaper and complete them within seconds, not days, using XRP.

At the time of writing, XRP transaction fees are not up to a cent, and it takes 3 to 5 seconds for transactions to be completed. According to the company’s announcement, Wellgistics will fund its XRP treasury reserve

Keep reading this article on E-cryptonews.com.

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