Ripple, which provides enterprise blockchain and crypto payment solutions globally, announced today that it has signed a partnership agreement with Berlin-based company Lunu. With this collaboration, Lunu-backed luxury goods vendors will be able to accept cryptocurrencies as a form of payment through Ripple's Liquidity Hub service.

As announced in the statement, Lunu offers support for the stores selling luxury goods in the European region to receive payments with crypto money through POS terminal and online modules. The partnership between Ripple and Lunu is aimed at increasing the adoption of crypto assets among consumers and retailers. Rajesh Madhaiyan, Product Director of Lunu, made the following statements regarding the cooperation:

   “Following the trend is critical for luxury retailers and the biggest innovation in payments comes with cryptocurrencies. Thanks to Lunu, these merchants will be able to reach an ever-increasing number of new, younger and wealthier audiences. Our partnership with Ripple will expand the diversity of payment methods.”

lunu ripple

In a statement, Ripple also shared the results of a recent value research. According to research by Ripple, 70% of respondents from financial institutions in Europe expect blockchain to have a major or significant impact on their business in the next five years. 59% of respondents seem willing to use Blockchain for payments.

In 2021, Ripple reported that it had its most successful year to date, doubling the number of transactions on RippleNet. The annual payment volume of RippleNet, which uses blockchain technology to help Ripple's partners around the world accelerate their business performance and scale, is reported to be $15 billion.

Prior to this latest partnership, Ripple announced another partnership with FINCI, which operates as an online international money transfer provider in Lithuania, last month. FINCI aims to make payments more effectively through RippleNet's on-demand liquidity service.