Cryptocurrency gains Wall Street's favor as major corporations amass holdings of it
In a significant shift for the corporate world, digital asset XRP is rapidly gaining popularity among listed companies. Two notable names, Wellgistics and Nature's Miracle, are leading the charge, displacing Bitcoin and Ethereum in cash reserves.
Wellgistics, a Nasdaq-listed technology company in the healthcare sector, plans to integrate XRP and the XRPL into its operations. This move is part of a comprehensive strategy to adopt blockchain and cryptocurrencies, positioning the company as one of the first healthcare companies to do so.
Wellgistics CEO Brian Norton views this initiative as a bet on digital asset technology. He sees it as a strategic move that will enable the company to create a payment network connecting over 6,000 pharmacies and 150 manufacturers using XRP. The goal is to facilitate real-time payments between these entities, offering operational efficiency, immediate liquidity, and new financing methods.
To strengthen its XRPL-based infrastructure and increase its XRP reserves, Wellgistics obtained a $50 million credit line from LDA Capital. The company also plans to use XRP for collateral in financing and as an income-generating asset.
Wellgistics is not alone in its adoption of XRP. Nature's Miracle, a U.S.-listed agricultural technology company, has created a corporate reserve of up to $20 million in XRP, backed by an SEC-approved share issuance. James Li, CEO of Nature's Miracle, views XRP as improving the speed and reducing the cost of cross-border payments. The company also plans to actively participate in the Ripple ecosystem, including staking and other forms of yield generation.
Trident Digital Tech and VivoPower are among other companies that have announced multimillion-dollar investments in XRP as part of their treasury strategies. This investment underscores the institutional credibility that XRP has gained through recent regulatory advances and Ripple's interest in obtaining a national banking license in the U.S.
XRP's network, the XRP Ledger, enables traceability, auditing, and regulatory compliance in heavily regulated sectors such as pharmaceuticals and finance. This makes XRP a bridge between traditional finance and the blockchain world, as it is involved in the development of the ISO 20022 standard.
In summary, XRP is being adopted by corporations not just for performance or diversification, but also operationally and strategically. Its transaction speed, low transaction costs, and architecture designed to facilitate real-time corporate payments make it an attractive choice for businesses seeking operational efficiency and new financing methods.
