Ripple and Lunu Partner to Enable Luxury Retailers to Accept Cryptocurrency Payments

LONDON & BERLIN--(BUSINESS WIRE)--Today, Ripple, the leader in enterprise blockchain and crypto solutions, has announced a partnership with Lunu to support the Berlin-based company’s luxury retailers in accepting cryptocurrency as a form of payment in store and online using Ripple’s Liquidity Hub.

Lunu enables high-end and luxury retailers in the UK and Europe to accept crypto payments in store via Lunu's point of sale (POS) terminal and online widget. Lunu currently works with customers including Farfetch, Off-White, Browns and Steven Stone. 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.

Ripple launched Liquidity Hub to support long-term crypto adoption, offering turn-key integration and smart order routing to source digital assets at optimized prices. Liquidity Hub customers can seamlessly access crypto assets from a variety of global venues, including market makers, exchanges and OTC desks.

“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.

Demand in Europe for Ripple’s products remains extremely strong. Ripple’s recent New Value research found that 70% of respondents at financial institutions in Europe expect blockchain to have a massive or significant impact on their business in the next five years, while 59% of respondents expressed interest in using blockchain for payments.

Ripple is the market leader in blockchain and crypto enterprise solutions and continues to see unprecedented growth globally, as customers continue to grow and scale using its products. In 2021 Ripple 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 help Ripple’s partners around the world accelerate their business performance and scale. It delivers a superior end-customer experience, simplified network partnering, liquidity management solutions, lines of credit, and state-of-the-art infrastructure to enable real-time payments.

About Ripple

Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.

About Lunu

Founded in Berlin in 2018, Lunu is the creation of Artem Shaginyan and Petr Vishnyakov, two successful tech entrepreneurs who met in 2018 at an avant-garde art exhibition in one of Berlin’s industrial hangars. When they found they shared an interest in the potential of blockchain technology, they decided to explore that industry to identify the most promising areas for business development. Their partnership in Lunu combines Vishnyakov’s expertise in the new digital economy and cryptocurrencies with Shaginyan’s background as a designer and serial entrepreneur in e-commerce.

Lunu is more than a tech startup. The company and its founders are emblematic of a new way of life for the 21st century: principled, fair, and dedicated to art and creativity, with a strong sense of social responsibility.