Skip to main content

Pro-Ripple Lawyer Reveals What The SEC Filing By Wellgistics Health Means For XRP

Pro-Ripple lawyer Bill Morgan has drawn attention to a new US Securities and Exchange Commission (SEC) S-1 filing by Wellgistics Health (WH), calling it a major sign of XRP’s growing real-world use. According to the filing, the company plans to use XRP not just as a treasury reserve but for real-time payments and income generation. 

Pro-Ripple Lawyer Weighs In On XRP Filing

In a July 25 X social media post, Morgan shared his take on Wellgistics Health’s S-1 filing submitted to the US SEC a day earlier. He argued that this goes beyond the standard use of XRP as a treasury reserve asset. According to Morgan’s analysis, the document reveals a multifaceted strategic vision that embeds XRP deeply into the company’s financial infrastructure and operational model. 

Unlike companies that merely hold crypto as a hedge or speculative asset, Wellgistics Health plans to integrate XRP into various core functions. Firstly, the company intends to use the XRP Ledger (XRPL) to implement a real-time, low-cost payment system facilitating transactions between itself, pharmacy customers, and manufacturing and vendor partners. According to a crypto community member, this marks a strong use case for XRP in Business-to-Business (B2B) payments and real-world commerce. 

Morgan also revealed that Wellgistics Health stated in its S-1 filing that it aims to raise capital through equity or debt securities and allocate proceeds toward acquiring more XRP. The firm plans to leverage its XRP holdings as collateral for funding activities, highlighting the cryptocurrency’s role in capital markets. Moreover, the company suggests it will generate income from XRP-based activities, further underlining the asset’s utility beyond speculative trading. 

This comprehensive strategy positions XRP as a possible financial instrument for collateralization, daily payments, and multiple income streams. Morgan sees these future developments and opportunities as a significant step in proving XRP’s enterprise viability. 

Skepticism Grows Despite Bold XRP Plans

Amid growing attention around XRP’s evolving use cases, Wellgistics Health’s SEC S-1 filing has stirred both enthusiasm and skepticism across the crypto community. While some XRP supporters see this as further validation of the token’s utility in business and finance, others remain cautious. Community members noted the novelty of a healthcare company embracing a “banker’s coin” like XRP, lightheartedly suggesting that broader mainstream adoption may follow soon. 

Former securities lawyer Mark Fagel added a layer of scrutiny, highlighting Wellgistics Health’s minimal assets, net losses, and a “Going Concern” warning in its audit report. This raised concerns that the company may be using XRP more as a marketing or fundraising tool rather than for actual utility and cross-border payments.

In response, Morgan acknowledged the possibility that WH might be leveraging the crypto narrative to attract investors, but also pointed out that the company’s plans align with a growing trend of crypto integration into corporate strategies.

Featured image from Finder, chart from TradingView



from Bitcoinist.com https://ift.tt/53dy1FH
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin ETFs Post Second Straight Week Of $500 Million Outflow — Details

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...
Post a Comment
Read more

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

OpenSea Dodges A Bullet As SEC Drops Investigation—Details

In a move that many in the crypto industry view as a positive signal, the US Securities and Exchange Commission (SEC) has officially discontinued its investigation into OpenSea, the leading NFT marketplace. This decision concludes months of uncertainty regarding the regulatory status of NFTs and their classification under US securities laws. SEC Decision Signals A Shift On February 21, 2025, Devin Finzer, the CEO and co-founder of OpenSea, said the SEC will not take any enforcement action against the firm. This comes following the August 2024 Wells Notice to OpenSea issued by the SEC, which indicated the possibility of legal action on alleged unregistered securities offenses. The outcome of this case suggests a possible shift in the way authorities handle NFTs, therefore affecting the whole scene of digital assets. For the industry, this outcome has been seen as a major turning point. Though they are in rivalry with OpenSea, Chris Akhavan, the Chief Business Officer of Magic Eden,...
Post a Comment
Read more