Ripple and Lunu have announced a partnership to help luxury retailers in Europe accept cryptocurrency for payment. The point-of-sale (POS) system is used widely throughout the region, and the integration will make it easier for consumers to use crypto to make their purchases.
Lunu allows luxury and high-end retailers in Europe and the UK to accept cryptocurrency payments. Lunu currently serves customers such as Farfetch and Off-White. Customers of Lunu will be able to accept crypto payments faster by using Liquidity Hub to optimize the exchange of crypto assets for fiat at a single location and competitive prices.
Ripple created Liquidity Hub in support of long-term crypto adoption. It offers turn-key integration and smart ordering routing to source digital assets at optimal prices. Customers of Liquidity Hub can access crypto assets seamlessly from a variety global venues, including exchanges, market makers and OTC desks.
Ripple products are still in high demand in Europe, according to the company. Ripple’s New Value research revealed that 70% of European financial institutions expect blockchain to have a significant or significant impact on their business over the next five years. 59% of those surveyed expressed interest in blockchain payments.
It also continues to be the market leader for blockchain and crypto enterprise solutions. Customers continue to scale up and grow using its products, and Ripple continues to experience unprecedented growth. Ripple’s most successful year was 2021, with more than double the transactions on RippleNet. The annualized RippleNet payment volume run rate is now at $15 billion.
RippleNet uses blockchain technology to aid its partners around the globe in increasing their business performance. It provides a superior customer experience, simplified network partnership, liquidity management solutions and lines of credit. The infrastructure is state-of-the-art to enable real-time payment.