Wellgistics Pharmaceuticals announced plans to implement XRP, as a tool for treasury and instant payment. The company is one of the very first publically traded companies to use this method.
Wellgistics adopts XRP in order to reduce settlement times from days to seconds
The Florida-based firm stated in its statement that they would be using XRP, along with its blockchain, to lower settlement fees, as well as increase remittance speed for manufacturers, suppliers and pharmacies.
Standard wire transfers are usually completed in three business days, despite the geographical restrictions and transparency concerns. The company wants to use XRP in order to complete these transactions within seconds and not over a period of days.
XRP transactions are currently free and take between 3 and 5 seconds to complete. Wellgistics announced that it will use a $50,000,000 equity credit line to fund the XRP treasury reserves and integration.
This financial support will also be used to develop smarter liquidity and real-time payments for the industry. Wellgistics CEO Brian Norton stated that the companies with the fastest rails and the cleanest data will win the battle for the future of the healthcare sector.
SEC Commissioner publicly criticizes U.S. SEC’s settlement in Ripple Case
Caroline Crenshaw of the SEC, following an official court document filed this week has condemned publicly Ripple’s recent agreement and two executive directors. This agreement may finally put an end to the five-year old law enforcement case.
According to the document available, Ripple and the U.S. SEC want the court dismiss the August court judgement and release the financial penalty of $125 million that is currently held in escrow. Ripple is to receive $75 million of the $125 million financial penalty, and the SEC the remainder.
If the court rules in favor of the entities, they will both withdraw their lawsuits. The SEC clarified that this agreement was merely a means of enforcing the law and that it did not mean that the court case had been invalidated.
Crenshaw said in her remarks that the SEC’s settlement was a betrayal to investor protection. The settlement, she said, represents a systematic destruction of the regulator’s framework for crypto enforcement.
The settlement, she said, weakens the role of the judiciary in the interpretation of the securities laws and regulations that are part of the critical functions it performs. Crenshaw is still the commissioner of the regulator, even though her official term ended in 2024.
Donald Trump has appointed her as one of two Democratic seats on a bipartisan 5-member commission in 2020. After her stance against crypto, Crenshaw was denied a recent nomination by the Senate, and her re-appointment vote in December 2018 was cancelled.
If Crenshaw doesn’t have a suitable successor in place, then she may continue to hold this role for up 18 months, according to current SEC regulations. Hence it’s likely she will step down from this position in December 2025.
Ripple Vs. SEC – Key Rulings and Appeals as well as the $125 million Fine
Ripple and the SEC began their case in 2020. The SEC claimed Ripple made $1.3 billion selling XRP tokens, without being registered a security. Judge Analisa Torres decided three years later that Ripple did not violate securities laws as it had used a “blind bid” process to sell these tokens.
The judge did add that direct sales of the XRP cryptocurrency to institutions through investment contracts could be classified as non-registered security offerings. She ruled Ripple must pay $125 million in fines.
Following the court ruling, both parties appealed.
The XRP on-chain activity surges 200% and the price breaks key resistance
A sharp increase in XRP on-chain activity indicates that this cryptocurrency is entering a new phase. Data from the on-chain shows that transactions for XRP topped 824 million this week.
The increase in XRP transactions is 200% higher than the average for the last 30 days. This kind of spike typically indicates more institutional accumulation.
XRP’s chart has also supported this positive sentiment. The daily timeframe shows XRP breaking out of a descending triangular pattern that it had been in since first quarter this year.
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Source: e-cryptonews.com
