Wellgistics, a publicly traded healthcare company, is launching a blockchain payment system based on Ripple.

PANews reported on August 16 that, according to Cointelegraph, Wellgistics Health, a publicly listed medical technology company, and RxERP, a pharmaceutical software company, are collaborating on a new blockchain system that will enable pharmacies to pay for products and transfer funds, while recording all payments on Ripple's XRP ledger. This system also provides an alternative to traditional bank transfers for wholesale drug purchases. Wellgistics Health has approximately 6,500 pharmacies across the United States. Wellgistics stated that the system complies with healthcare and financial regulations, including the privacy requirements of the Health Insurance Portability and Accountability Act (HIPAA) and anti-money laundering (AML) regulations.