Earlier today, Ripple, the industry leader in corporate blockchain and crypto solutions, announced a partnership with Lunu to help the Berlin-based company’s luxury merchants accept crypto as a payment in-store and online via Ripple’s Liquidity Hub.
Lunu’s point of sale (POS) terminal and web widget allow high-end and luxury retailers in the UK and Europe to take crypto payments in-store. Farfetch, Off-White, Browns, and Steven Stone are among Lunu’s current clients.
Lunu’s customers will be able to speed up the processing of crypto payments by optimizing the exchange of cryptocurrencies to fiat in one place at competitive costs, thanks to Liquidity Hub.
“It’s critical for luxury merchants to stay on top of the latest trends. The expanding crypto landscape is driving the most innovation when it comes to payments,” said Rajesh Madhaiyan, Director of Product at Lunu.
“These retailers now have access to new, younger, more wealthy consumers, which are constantly expanding in number, thanks to Lunu. By expanding the diversity of payment methods and portraying retailers’ brands as more modern and advanced, our cooperation with Ripple has the potential to have a significant influence on retailers’ customer service offerings,” he added.
“From payments to lending and credit, crypto liquidity is the common thread across all of Ripple’s products,” said Sendi Young, Europe Ripple’s Managing Director.
“Our mission is to create a suite of crypto solutions for businesses that benefit our clients and their consumers. It is why we’re so happy by this wonderful new Liquidity Hub use case, which will allow Lunu’s luxury retail clients to take crypto payments at the point of sale,” asserted Young.
Ripple’s Growing Popularity
Ripple’s products continue to be in high demand in Europe. According to Ripple’s recent New Value research, 70% of financial institution respondents in Europe expect blockchain to have a major or significant influence on their business in the next five years, with 59% expressing interest in adopting blockchain for payments.
Ripple is the world leader in blockchain and crypto enterprise solutions, and its customers continue to expand and scale utilizing its technologies, resulting in unparalleled global growth. Ripple had its most successful year so far in 2021, with the volume of transactions on RippleNet more than doubling. The annualized payment volume run rate of RippleNet has now reached 15 billion USD.
RippleNet is a blockchain-based platform that helps Ripple’s global partners improve their business performance and grow. It provides a better end-user experience, simpler network partnering, liquidity management solutions, lines of credit, and resources to accommodate real-time payments.
More About Lunu
Lunu was founded in Berlin in 2018 by two successful tech entrepreneurs, Artem Shaginyan and Petr Vishnyakov, who met in 2018 at an avant-garde art exhibition in one of Berlin’s industrial hangars.
When they discovered that they shared an interest in the promise of blockchain technology, they started to research the industry in order to uncover the most promising avenues for business growth. Vishnyakov’s knowledge of the new digital economy and cryptocurrency is combined with Shaginyan’s background as an e-commerce designer and serial entrepreneur in Lunu.