Wellgistics Health, in collaboration with RxERP, has launched a blockchain-based payment system that allows over 6,500 independent US pharmacies to settle prescription drug payments using cryptocurrency on Ripple’s XRP Ledger. This innovative system is designed to facilitate product payments and fund transfers for pharmacies while ensuring compliance with healthcare regulations such as HIPAA and AML laws. Wellgistics’ CEO Brian Norton emphasized the forward-thinking nature of independent pharmacy owners, highlighting the transformative potential of blockchain in the industry. Despite the slow adoption of blockchain in healthcare, the global market is projected to grow significantly, from $7.04 billion in 2023 to $214.86 billion by 2030. Other healthcare companies are also exploring cryptocurrency, with Prenetics Global Limited implementing a Bitcoin treasury strategy and Basel Medical Group planning to establish a Bitcoin reserve. However, challenges remain, particularly concerning strict data privacy regulations in Europe.

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