Ripple SEC Agreement and the Giant Company's Rise with 50 Million Dollar: XRP Will Be Used! - Coin Bulletin

Florida-based pharmaceutical distribution company Wellgistics Health announced that it will use XRP as a treasury and payment instrument in a $50 million financing agreement, while on the same day Ripple Labs officially filed a $50 million settlement agreement with the SEC.

Ripple, a significant player in the world of cryptocurrency, is experiencing pivotal developments regarding its digital asset XRP. Wellgistics Health, a Florida-based pharmaceutical distribution company, announced its support for XRP as a treasury and payment asset, placing this token at the center of a $50 million financing agreement.

In a statement made on Thursday, Wellgistics Health announced that it has secured a credit limit guarantee to support XRP-based reserves and infrastructure for real-time payments. The company plans to use blockchain technology to facilitate transactions across its pharmacy network, manage supplier payments, and provide credit lines supported by XRP.

(# Banking delays are becoming a thing of the past.

This move makes Wellgistics one of the few publicly traded U.S. companies that actively integrates XRP into its financial operations. XRP will eliminate banking delays, which are two significant points of resistance in pharmaceutical supply chains, and allow transactions at costs as low as a fraction of a cent.

In a statement made by the company, it was said, "We believe that integrating XRP and its related infrastructure into our healthcare ecosystem has certain advantages." "XRP transactions are completed in 3-5 seconds compared to the 1-3 day period required for ACH or wire transfers, enabling near real-time settlement among pharmacies, suppliers, and manufacturers. All transactions are recorded on the XRP Ledger for real-time compliance, discount tracking, and auditability."

)# historic settlement with SEC

Another notable development on the same day was the end of the years-long legal battle between Ripple Labs and the ###SEC###. According to the settlement agreement filed on Thursday in New York, both parties agreed to a $50 million penalty.

This figure represents a portion of the $125 million penalty initially set by Judge Analisa Torres in the Southern New York District last year, and a very small part of the enormous $2 billion penalty that the SEC initially sought.

This settlement occurred in the context of the SEC withdrawing from many cryptocurrency investigations and lawsuits initiated during the tenure of former SEC Chairman Gary Gensler, following the inauguration of U.S. President Donald Trump in January and the appointment of cryptocurrency-friendly Paul Atkins as the new chairman of the SEC.

Following the reconciliation news, XRP price increased by 9%. The new government's crypto-friendly approach and this significant integration in the pharmaceutical sector provide a strong use case for XRP, boosting confidence in the token.