DUBAI, UAE, May 27, 2024 — XRP Healthcare, a groundbreaking company bridging blockchain and healthcare, announces a critical step towards preserving token scarcity. Effective June 7th, 2024, the XRP to XRPH token swap facility will be halted, or sooner if the allocated XRPH Swap facility tokens are exhausted. This action is driven by the overwhelming demand for XRPH tokens and the need to safeguard the finite supply for existing token holders and users of the groundbreaking app available on Google Play and Apple Store. With this app, XRPH tokens can be used at 68,000 pharmacies such as Walmarts, CVS and Walgreens, offering significant savings of up to 80% on prescriptions and medications, requiring only $1.00 of XRPH tokens each time the card is used.
XRP Healthcare ensures token scarcity by limiting the total supply to 100 million XRPH tokens, with a Blackholed issuing account to prevent future token creation. This is in stark contrast to centralized financial systems where governments and central banks can inflate the money supply at will. Examples include the Federal Reserve in the United States and the European Central Bank, who have engaged in quantitative easing, leading to potential inflation and currency devaluation over time.
“Suspending the swap facility is crucial for maintaining the integrity and scarcity of XRPH tokens in the long run,” said Kain Roomes, CEO and Founder of XRP Healthcare. “By Blackholing the issuing account, we are aligning with best practices in the cryptocurrency ecosystem, preserving the value of our tokens for our users.”
Scarcity is a fundamental principle in the crypto world, as exemplified by Bitcoin, which undergoes a “halving” event approximately every four years. The most recent halving in April 2024 reduced the reward for mining new blocks by 50%. This process inherently limits the supply of new Bitcoins, contributing to its status as “digital gold” and often leading to significant price appreciation post-halving.
“Halting the swap facility allows us to proactively manage our token supply, similar to successful cryptocurrencies like Bitcoin and Ethereum,” said Laban Roomes, Business Development Officer at XRP Healthcare. “This ensures our users benefit from a finite supply of XRPH tokens, which are becoming increasingly scarce.”
XRP Healthcare has recently gained significant traction, with the XRPH token rising from a CoinMarketCap position of over 3500 to its current position around 1400.
Further enhancing trust and transparency, XRPH token supply information is available on CoinMarketCap (CMC), and XRP Healthcare operates as a validator node on the XRPL.
The company is also advancing its plans in Uganda and the broader African region. This includes successfully registering its subsidiary in Uganda, fulfilling regulatory requirements to brand private healthcare acquisitions of pharmacies, medical centers, and hospitals with its logo, while maintaining self-sufficiency without relying on third parties.
XRP Healthcare is raising its own funds to initiate mergers and acquisitions of private healthcare facilities in the region.
The company has also appointed Uganda-born Dr. Josephine Birungi, an advisor to UNICEF, WHO, and the Bill and Melinda Gates Foundation, to their advisory board. XRP Healthcare is fully committed to disrupting and transforming the African healthcare system.
“In a market where the scarcity of digital assets is a key factor in their appeal, this initiative demonstrates our proactive stance in protecting the integrity and value of XRPH tokens,” added Whitney Lynn, Chairman of XRP Healthcare. “This move not only responds to current market dynamics but also positions XRPH as a valuable and sought-after token in the growing field of blockchain-based healthcare solutions.”
About XRP Healthcare
XRP Healthcare is the first Pharma and Healthcare platform on the XRP Ledger, enabling fast global payments, improving healthcare access in emerging markets, and creating real-world utility by transforming global healthcare through mergers, acquisitions and blockchain.
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