Healthcare Tech Company’s Stock Plummets After the Firm Announces New XRP Treasury Reserve and Payments Initiative
The action of a health technology company landed after announcing a new initiative to use XRP in its cash reserve and for payments.
Wellgistics Health (Wgrx), which specializes in pharmaceutical distribution and health infrastructure, notes in a new press release that he obtained a credit facility of $ 50 million to support the use of XRP in real -time regulations as well as a cash reserve asset.
Wellgistics says that it is developing a platform that allows instant payments between pharmacies, suppliers and manufacturers. The platform will also allow intelligent discounts while introducing credit lines supported by XRP for independent pharmacies.
Said Brian Norton, CEO of the company,
“Our payment system and our big book compatible in blockchain is only the next logical step in the evolution of health care, which allows us to aim for hard, liquidity and transparency in a system that has long been hungry for the three. I believe that future winners in health care will not be the most effective companies.
However, it does not seem that shareholders share Norton's confidence. WGRX is down more than 9.5% in the last day and almost 40% in the last five days.
XRP, on the other hand, increased by more than 2.5% in the last day and more than 7% last week and is negotiated at $ 2.35 at the time of the editorial staff.
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