The e-commerce giant Alibaba has partnered with the bitcoin shopping app, Lolli, as part of a drive to motivate the shoppers on China’s ‘Singles Day’. That is unofficial holiday, in China falls on 11/11, which is equivalent of America’s Black Friday.
The Lolli users were able to earn 5% in bitcoin, according to a company blog post, when they shop with partner Alibaba. That day is massively popular in the China where it’s burgeoning the younger generation and nouveau riche want to splash cash to celebrate their solo status.
The Lolli’s partnership with Alibaba has also recently warned against the crypto payments in China, as it would allow the US-based users who purchase on Chinese platform to earn a cut in BTC. It was stated by the CEO and co-founder of Lolli, Alex Adelman, that;
“I’m excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin back to its shoppers. This is a milestone partnership for Lolli as Alibaba is the largest retailer and e-commerce company in the world, launching on Single’s Day, the world’s largest shopping day of the year.”
Lolli already works with more than 500 partners that includes the big names such as Groupon, Walmart, Toms, GAP, Hilton, and Hotels.com. So that app works through a browser extension, which also notifies the users when they’re browsing a partner’s online retail outlet.
It was claimed by the Official website that they are on a mission to spread the bitcoin to billions of people, all over the world with the click of a button. It is obvious now that Chinese and US-based platforms are also trying to capitalize on one of the biggest shopping days in the year. Alibaba had broke the Singles Day record, with about more than $38 billion in sales yesterday, according to CNBC.
Free bitcoin for the Chinese users, would have been resulted in an even larger profit margin for the Chinese e-commerce giant Alibaba.