HomeCryptoCurrency NewsRipple Collaborates With Lunu To Enter European Luxury Market

Ripple Collaborates With Lunu To Enter European Luxury Market

Ripple, one of the leading blockchain solutions provider, signed a deal with Lunu, a crypto-terminal operator specializing in luxury retailers, aiming to provide German high-end retailers with the ability to receive payments in cryptocurrency.

Ripple Labs have been attracting headlines since the recent World Economic Forum (WEF) event in Davos. Despite a bear market, Ripple Labs CEO, Brad Garlinghouse, holds much confidence in the firm’s growth opportunities. In an interview, Garlinghouse, expressed that Ripple Labs have “a very strong balance sheet.” He also hinted at the possibility of a numerous mergers and acquisitions (M&A) in the near future.

Seamless Transaction For The Rich

Ripple Collaborates With Lunu To Enter European Luxury Market

Soon after Garlinghouse’s statement, Ripple, has joined forces with Germany based cryptocurrency terminal platform, Lunu. The partnership will facilitate Lunu’s luxury retailers in accepting cryptocurrency as a form of payment using the Liquidity Hub of Ripple. Lunu, enables luxury retailers across the United Kingdom and the European region to accept cryptocurrency payments in store through its POS terminal and online widget.

The Ripple Liquidity Hub can seamlessly access crypto from various global venues, including centralized and decentralized exchanges and even OTC venues. The Liquidity hub was developed by the Ripple team with the intention to simplify cryptocurrency adoption.

According to reports, the alliance between Ripple and Lunu’s point-of-sale (POS) terminals will be instrumental in providing an opportunity for high-end and luxury retailers in Europe and the United Kingdom to accept cryptocurrency payments in their stores. This will also drive the adoption of cryptocurrencies among consumers and retailers. 

Sendi Young, Managing Director at Ripple Europe, said that crypto liquidity is the common thread that underpins all of Ripple’s solutions, from payments to lending and credit. The primary goal of Ripple is to build a suite of enterprise-oriented crypto products for the benefit of the company’s clients and customers alike. He seemed quite enthusiastic with the partnership saying,

“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.” 

Ripple’s Past Partnerships

Last month, Ripple announced a partnership with FINCI, an online global money transfer provider based in Lithuania. The joint action will assist business-to-business payments through RippleNet’s on-demand liquidity, a service that leverages XRP for crypto-enabled efficient cross-border payments. In 2021 Ripple announced the launch of its XRP-based on-demand liquidity (ODL) solution in the Middle East in partnership with a local firm, as the first such roll-out in the region.

subhasish
subhasish
Subhasish is interested in all things crypto and finance. He switched from marketing to become a writer driven by the need to make sense of the dynamic market. He primarily focuses on on-chain data of Bitcoin, Ethereum, and the macroeconomic effects of crypto. Rock n’ Roll flows through these veins.
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