Main navigation

Ripple Concludes Fresh Partnership to Expand into European Luxury Market

Tue, 06/07/2022 - 09:38
article image
Gamza Khanzadaev
Ripple partners up with Lunu to take on European luxury market
Ripple Concludes Fresh Partnership to Expand into European Luxury Market
Cover image via
Read U.TODAY on
Google News

In order to provide German high-end retailers with the ability to receive payments in cryptocurrency, Lunu, a crypto-terminal operator and payment provider that specializes in working specifically with premium retailers, and Ripple, a well-known provider of business blockchain solutions, have formed a partnership.

The partnership focuses primarily on optimizing the exchange of cryptocurrencies for fiat money. To solve this task, Ripple's Liquidity Hub will be used. This platform was developed by the Ripple team to simplify cryptocurrency adoption. It can be integrated on a turnkey basis and features an intelligent order routing to receive digital assets at optimal prices. In this way, Ripple Liquidity Hub user companies can seamlessly access crypto from various global venues, including centralized and decentralized exchanges and even OTC venues.

The joint use of RippleNet 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.

European Ripple

Ripple continues to grow its presence on many continents of the globe. After gaining momentum in the Middle East, it is also increasing its presence in Europe.

The most successful year for the company was 2021, when Ripple managed to double the number of transactions on RippleNet. Currently, the average annual volume of payments on the network is $15 billion.

Further expansion of Ripple's partner network is likely and, as a consequence, legitimization of the use of both the company's technologies and blockchain in general.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.