Lolli, an affiliate retailer that offers online shoppers bitcoin instead of regular repayment, has just announced its first Asian partnership with Chinese e-commerce giant Alibaba.
The Lollis browser app allows users to shop through sellers' websites as they normally would, but earns small rewards from Bitcoin delivered to the browser's wallet.
CoinDesk reached out to Alibaba for comment and will update the article if we hear back.
This announcement comes on Singles Day, the November 11 Chinese shopping holiday comparable to United States Black Friday. Alibaba Group's online sales of Singles Day have reportedly generated more than $ 23 billion so far this year.
However, Lolli's Head of Communications, Aubrey Strobel, told CoinDesk that Lolli perks will only be available for purchases made in the United States for Chinese-Americans, foreign students or travelers, this new option may add additional benefit if they participate in online vacation sales, but residents of China will not be able to participate.
"Products will be shipped from China to US users," Strobel said.
Lolli CEO Alex Adelman referred to this partnership as a milestone for the startup, which plans to expand internationally by 2020.
“This partnership is a great first step to connecting the two largest economies, China and the United States, through bitcoin and trade, "he told CoinDesk. "The opportunity is available to US users only for now, but we plan to expand internationally soon so everyone in the world can easily earn and own bitcoin."
When we go back, there are several cash-back crypto launches that are gearing up for holiday shopping seasonally. There are now several retail bitcoin apps, including competitors such as Fold, Pei and SPEDN, which target customers during the holiday shopping season 201
Alibaba image via Shutterstock