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Digital Currency Revolution Series: Alibaba Joins Hands With Lolli To Reward Online Shoppers In Bitcoin
The globally renowned e-commerce player ‘Alibaba’ has made a partnership with Bitcoin-based start-up ‘Lolli’.
Lolli, which is a bitcoin rewards shopping app has announced the news that enables its shoppers to earn 5% back in Bitcoin.
Thereby, Alibaba customers can now be rewarded with Satoshis (sats), the fractional unit of Bitcoin, worth 0.00000001 BTC, as and when shopping “thousands of items online,” Lolli says.
This free Bitcoin reward will be given to those users who purchase on the Chinese platform, but based in the U.S. can only avail of this offer.
Well, the partnership deal has been announced on Singles Day, which happens to be a shopping holiday that is celebrated in China on November 11th and is referred to be the world’s biggest one-day shopping event.
The healthy effect on its business: As soon as the news came in, consequently, it witnessed a mammoth 24% surge in international revenue as well as in Alibaba Stock price. As per the sources, Alibaba shoppers spent more than $31 billion on Singles Day in 2018.
The CEO and co-founder at Lolli app, Mr. Alex Adelman, seemed to have been delighted to join hands with the globally renowned Chinese e-commerce giant and offer services to users worldwide.
Alex Adelman revealed in the blog, “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.”