Ripple Joins Forces With Lunu For Crypto Payments For Luxury Products

Ripple joins forces with LUNU, a Berlin-based crypto payment provider that will allow luxury retailers to accept digital assets as a means of payment so let’s find out more today in our latest Ripple news.

The European Luxury brands like Fartecth, Steven Stone, and Off-white already enabled customers to pay in digital assets. Ripple joins forces with LUNU now to allow for luxury retailers to accept digital assets as a means of settlement so all customers can pay their bills this way, both in-store and online by suing ripple’s Liquditiy Hub.

After the collaboration, the British and European Luxury retailers will be able to sell the clothing and jewelry in crypto. Lunu works with Farfetch and Steven Stone and more so those who will embrace digital asset payments when selling products in-store or on their online platforms. The initiative will be made via Ripple’s Liquidity Hub which was launched a few months ago. The primary goal is to support crypto adoption in the long term and to allow individuals to buy, sell and hold crypto for settlements.

The director of Product at Lunu, Rajesh Madhaiyan, believes that retailers in the luxury industry need to stay on top of the latest trends in order to catch up with the innovations and to satisfy clients which is why they want to engage with the crypto space:

“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.”

The managing director of Ripple in Europe, Sendi Young, stated that the organization aims to build a suite of enterprise-oriented crypto products for the benefit of users:

“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.”

The German fashion company Philip Plein is also one of the few names as a part of that club and last year, it enabled customers to pay in 15 digital assets like BTC and ETH. A month ago, the Italian fashion house Gucci also jumped on board and embraced 12 cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, Ether, and Shiba Inu. The Swiss luxury watchmaker Tag Heuer as well as Balenciaga completed the list and the former said “yes” to crypto payments ont the website while the latter allowed customers to buy products from shops in LA or New York.