Chinese e-commerce giant Alibaba has partnered with Loli, a Bitcoin reward platform, enabling the shoppers to earn rewards in the digital currency.
Announced on Monday, the partnership will reward Loli users 5 percent of their shopping value for purchases on Alibaba.com.
A perfect time to launch the crypto-reward program
The partnership came on “Singles Day,” the Black Friday equivalent in China, when stores offer massive discounts and see a huge surge in sales. According to TechCrunch, the November 11 Singles Day sale hit $38.4 billion on the merchant platform this year.
Commenting on the partnership, Alex Adelman, co-founder and CEO of Loli, said: “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.” Read More...