Ripple Partners With Lunu For Luxury Purchases Using Cryptocurrencies

JAKARTA – Cross-border payment and blockchain solutions company, Ripple partnered with crypto payment platform Lunu. The partnership allows the payment of luxury goods using cryptocurrencies.

Shoppers can use the Ripple Liquidity Center to pay for branded items from various stores, according to the announcement of the partnership.

Founded in 2018, Lunu is a crypto payment provider that allows merchants to accept a variety of cryptocurrencies as a payment method. These funds can be converted from digital assets into fiat currencies, such as US dollars and Euros.

Launching Bitcoinist, Lunu offers various products to its affiliated merchants, such as Lunu points of sale or terminals for processing in-store payments, Lunu widgets for e-commerce platforms, wallets for buying, storing, exchanging, and transacting with digital assets, and so on.

This partnership has the potential to enable millions of users and merchants to adopt cryptocurrencies. Lunu operates with e-commerce giants, such as Shopify, Woo Commerce, Magento, BigCommerce, PhP, and others.

Among its luxury brand retailers are renowned jewelers Steven Stone, Chalhoub Group, Off-White, Browns, Courbet, L'Exception, Farfetch and many more. The partners believe that their collaboration by enabling accelerated crypto adoption is for the benefit of both merchants and consumers.

The former will have the opportunity to tap into new consumers, and the latter will be able to benefit from fast and inexpensive transactions with the Ripple Liquidity Center. The platform “seamlessly” connects stores and consumers with global venues, including with exchange platforms.

“For luxury (goods) retailers, it is very important to stay abreast of the latest trends, and when it comes to payments, the biggest innovation comes from the thriving crypto scene. Thanks to Lunu, this retailer is gaining access to a new, younger, richer audience that continues to grow in number,” said Rajesh Madhaiyan, Product Director at Lunu.

“Our partnership with Ripple has the potential to greatly influence retailer customer service offerings by expanding the variety of payment methods and by portraying retailer brands as more innovative and progressive,” he added.