Bitcoin startup Lolli announced that the company's users who shop on Alibaba can get a 5% bitcoin as a reward. Lolli is a browser-built application that is currently available for mainstream web sites, including Wal-Mart, through its portal.
Lolli announced the news in the double eleven. According to Lolli, in the 2018 Singles Day, Alibaba's shoppers spent more than $31 billion.
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Alex Adelman, CEO and co-founder of Lolli, pointed out that Alibaba is the world's largest retailer and e-commerce company, a move that is a very important step for Lolli.
“Our users earn free bitcoins on millions of online products every day. It can be said that the most important thing is that we can achieve the mission of connecting the whole world through business.”
However, this event is only available to US users. Aubrey Strobel, communications director at Lolli, said that Chinese residents will not be able to participate and that products must be shipped from China to the United States.
Adelman highlighted the company's plans to expand globally in 2020 and emphasized the desire to connect China and the United States through bitcoin and commercial.
Earlier today, the earliest Bitcoin shopping rewards app, Fold, announced support for purchases within the Airbnb app. With this new feature, Fold users receive 3% bitcoin cashback per stay and make reservations on the platform. The app can be used in specific countries including the US, Australia, Canada, Ireland, Mexico and the UK.
As for Alibaba, the Chinese retail giant has so far been unfriendly to Bitcoin. On October 10, Alibaba's digital payment platform Alipay reiterated its negative stance on Bitcoin , confirming that all Bitcoin-related transactions will be banned.