The affiliate retail startup Lolli has started a new partnership with the Chinese e-commerce giant Alibaba. Now, Alibaba will offer Bitcoin (BTC) rewards for clients who use Lolli to make purchases. Lolli is an in-browser app that is focused on allowing the users to get cashback in crypto and earn small rewards.
This new partnership was announced on Singles Day, a Chinese shopping holiday which is similar to Black Friday. As this is a major day for retail in the country, there are many people shopping, so it was the ideal day to launch the new project.
Aubrey Strobel, the head of communications at Lolli, has recently affirmed that China residents will, unfortunately, not be able to participate. Only Chinese-Americans, foreign students or travelers who are currently in the U. S. will be able to participate as Lolli cannot operate legally in China. Another reason is that all products need to be sent from China to the United States.
Lolli’s CEO Alex Adelman said that this partnership could be considered a milestone for the company and that Lolli had plans for an international expansion next year. He also noted that this was an important step to connect two important economies via Bitcoin and e-commerce.
Adelman acknowledged that the opportunity was only available for U. S. residents right now and claimed that the goal was to actually let anyone participate as soon as possible.