Thousands of US pharmacies can now use Ripple’s XRP Ledger to settle prescription drug payments through a new blockchain-based system. Developed by Wellgistics Health and RxERP, the system allows pharmacies to pay for products and move funds, offering an alternative to traditional bank transfers for wholesale drug purchases. The system meets healthcare and financial rules, including HIPAA privacy requirements and AML laws.

The global blockchain in healthcare market was valued at $7.04 billion in 2023, with projections to reach $214.86 billion by 2030. Decentralized science (DeSci) can cut costs and accelerate drug development, streamlining clinical trials. Despite progress, blockchain in healthcare faces challenges such as data privacy rules under GDPR, as seen in stalled government-backed blockchain healthcare pilots in Germany.

Healthcare entities are increasingly adding digital assets to their corporate treasuries. Prenetics Global Limited acquired 187 BTC worth $20 million and appointed Andy Cheung to oversee its Bitcoin treasury strategy. Basel Medical Group announced plans to acquire $1 billion in BTC to enhance expansion capabilities, triggering a 15% drop in its share price.

Read more at CoinTelegraph: Wellgistics debuts XRP payments for independent US pharmacies