Ripple Makes Another Partnership with European Financial Institution -Breaking
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Ripple forms another partnership with European Financial Institutions- Partner with Lunu, an innovative startup based in Berlin
- This collaboration will allow Lunu luxury retail stores to accept cryptocurrency payments via POS.
- The new partnership represents Ripple’s second collaboration with European financial institutions within two months.
Ripple, the blockchain-based digital payments network protocol and protocol has announced that it is now partnering with Lunu (a Berlin-based startup). With this collaboration, Lunu’s retail clients will be able to accept payment in cryptocurrency using the Liquidity Hub of Ripple.
Lunu is currently facilitating payment to luxury retailers like Farfetch (NYSE :), Off-White & Steven Stone via the Point of Sale (POS terminal) and its online widget. The Liquidity Hub of Ripple will enable Lunu’s customers to accelerate the acceptance of crypto payments by optimizing the exchange of crypto assets to fiat at competitive prices.
Rajesh Madhaiyan (director of Product at Lunu), said:
It is crucial for luxury retailers to keep up with the most recent trends. The best innovation in payments is coming from the emerging crypto scene. 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.
Ripple’s European Managing Director, Sendi Young, revealed that Ripple wants “to build a suite of enterprise-oriented crypto products for the benefit of [their] clients and customers.” With Lunu tapping Ripple’s Liquidity hub, this becomes yet another use case for the service.
This new partnership represents Ripple’s second collaboration with European financial institutions within two months. In May 2022, Ripple announced that FINCI, a Lithuanian online money transfer provider, will partner with them to enable faster, lower-cost cross-border payments with RippleNet’s On-Demand Liquidity (ODL).
According to CoinMarketCap, XRP trades for $0.3907 at the moment. According to CoinMarketCap, XRP is among the most valuable cryptos with a total market cap of $18,834,841,185. It reached an all-time record of $3.84 4 years ago, and was at its lowest of 0.00282 one year ago.
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