The world’s largest retailer and e-commerce company, Alibaba, has partnered with Bitcoin (BTC) rewards shopping app Lolli.
According to Lolli, US shoppers using Alibaba will earn 5% back in Bitcoin (BTC) when purchasing thousands of items, with customers getting paid in Satoshis (sats) – the smallest unit of Bitcoin (1 Satoshi is 0.00000001 BTC).
Despite only being available to US users, the new partnership was revealed on 11th November, which is ‘Singles Day’ in China. Thought to be the world’s biggest shopping day, Lolli says Alibaba shoppers spent more than $31 billion on Singles Day in 2018.
Commenting on the partnership CEO and co-founder at Lolli, Alex Adelman, said:
“Our partnership allows our users to earn free bitcoin on millions of products online every day. Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce.”
Staying with Bitcoin (BTC) rewards apps, Fold has also announced users will now get 3% Bitcoin (BTC) back for every booking through home-sharing platform Airbnb. Initially the rewards will be paid to users in the US, Australia, Canada, Ireland, Mexico and the United Kingdom.
Lolli is already partnered with more than 500 brands, including Walmart, Hotels.com, Groupon, Harry’s, GAP, Overstock, GoDaddy, Hilton, Macy’s, Brandless, Safeway and many more.
AYO.NEWS says:
Considering that Alibaba has previously demonstrated clear hostility towards Bitcoin (BTC), going as far as terminating transactions it suspected of being Bitcoin-related, the partnership with Lolli is a little surprising to say the least. However, over the last few weeks we have seen a dramatic softening of the attitude towards cryptocurrencies and blockchain in China as a whole, so maybe it is a sign of things to come?
AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
