The leading blockchain enterprise and crypto solution, Ripple has announced a partnership with the Berlin-based company, Lunu to support Lunu luxury retails to accept cryptocurrency in store and online using Ripple Liquidity Hub.
Lunu offers high-end and luxury retailers in the UK and Europe to accept crypto payments in store through its point of sale (POS) terminal and online widget. Currently, Lunu works with customers of many giant companies in Europe including Farfetch, Steven Stone, Off-White, and Browns. Liquidity Hub will enable Lunu’s customers to accelerate the acceptance of crypto payments by optimizing the exchange of crypto assets to fiat in one place at competitive prices.
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For long-term crypto adoption, Ripple has launched Liquidity Hub which offers turn-key integration and smart order routing to source digital assets at optimized prices. The Liquidity Hub customers can however access crypto assets from a variety of global venues, including exchanges, OTC desks and market markers.
“For luxury retailers it is vital to stay on top of the latest trends, and when it comes to payments the greatest innovation is coming from the evolving crypto scene. Thanks to Lunu these retailers get access to new, younger, more affluent audiences that are constantly growing in numbers. Our partnership with Ripple has the potential to greatly impact retailers’ customer service offerings by expanding the variety of payment methods and by portraying retailers’ brands as more innovative and progressive,” said Rajesh Madhaiyan, Director of Product, Lunu.
“Crypto liquidity is the common thread that underpins all of Ripple’s solutions, from payments to lending and credit. Our ambition is to build a suite of enterprise-oriented crypto products for the benefit of our clients and their customers. This is why we are so excited by this fantastic new use case for Liquidity Hub which will enable Lunu’s luxury retail clients to accept crypto payments at the point of sale,” said Sendi Young, Managing Director, Europe, Ripple.
Ripple’s product demand in Europe is extremely strong. According to Ripple’s recent new value research, 70% of respondents at financial institutions in Europe are expecting blockchain to have a significant impact on their business in coming years, while 59% of respondents showed interest in using blockchain for payments.
When it comes to blockchain and crypto enterprise solution, Ripple has been the market leader of which in recent times, has seen unprecedented growth globally, with its continuous increase in customers across the globe, Ripple last year had its most successful year to date, more than doubling the number of transactions on RippleNet. RippleNet’s annualized payment volume run rate now stands at $15B.
RippleNet leverages blockchain technology to assist Ripple’s partners across the globe accelerate their business performance and scale. It delivers a top-notch end-customer experience, simplified network partnering, liquidity management solutions, lines of credit, and state-of-the-art infrastructure to enable real-time payments.
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