Alibaba Partnered with Lolli to Reward US Shoppers in ‘Bitcoins’

Arushi Dubey
Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

Source: Asia nikkei

Alibaba which is a China-based one of the biggest e-commerce companies in the world has recently alliances with Newark based retail startup named Lolli. This tie-up between Lolli and Alibaba could be very beneficial for the U.S. shoppers as they will receive Bitcoin was a reward whoever they shop from Alibaba.com. the shoppers can earn up to 5% of Bitcoin as a reward.

The retail startup Lolli has stated that now the U.S. shopper can earn the smallest unit of Bitcoin token Satoshis when they shop “thousands of items online.” The announcement of the alliances between two companies was made on 11 November, which known as Singles Day and it is celebrated as a shopping holiday in China.

The Chinese people celebrate this day as a big shopping event and it is also known as the world’s largest one-way shopping celebration. On the other hand, as per the Lolli, shoppers of Alibaba spent over $31 billion on Singles Day the previous year.

The CEO and co-founder of Lolli, Alex Adelman stated,

“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.”

He also said that it is a very big thing for Lolli because Alibaba is the biggest e-commerce and retailer firm in the world.

One more thing that is important that this feature of earning free bitcoin as a reward for shopping is only available in the United States, as per the report of Coindesk. Unfortunately, the Chinese customers of Alibaba can not take part in this and the purchased items would be shipped to the U.S. from China, as stated by Lolli’s head of communications, Aubrey Strobel. In the report of the Coindesk, Adelman said that it is the best way to connect business between the U.S. and China with the help of Bitcoin and he also said they are willing to expand their company internationally in 2020.

Another news was reported by Cointelegraph yesterday, that Fold one of the oldest Bitcoin rewarding apps for shopping has launch assistance for Airbnb which is a home-sharing firm. With this new partnership, the customers of Fold will receive a reward of 3% Bitcoin on their stay and booking experience on Airbnb.

However, the rewards on the app are only accessible in selected countries such as Mexico, Canada, Ireland, U.S., Australia, and the United Kingdom and there is one more condition for this, that is available for particulars brands.

On the other hand, if we talk about the relation between Bitcoin cryptocurrency and China is not so friendly and it also implies to Lolli’s new partner Alibaba. As in the previous month on 10th October, the e-commerce company’s digital payment wing Alipay repeated its negative attitude towards Bitcoin and claimed that it will not accept any payment linked with Bitcoin and ban all transacted related to it.

 

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