- The biggest shopping events in China see Alibaba give Bitcoin as cashback to US-based customers.
- Alibaba recently refused to allow Chinese people to buy Bitcoin via Alipay.
China’s popular ‘Singles Day’ the equivalent of the United States’ Black Friday. In an interesting turn of events, the Chinese e-commerce behemoth Alibaba in partnership with Lolli, a New York-based Bitcoin app allowed cashback to US online shoppers on November 11.
The 5% offer was given to all the users shopping on Alibaba via the Lolli app. Alibaba’s partnership with Lolli gives a cashback discount to Lolli users. According to Alex Adelman, the CEO of Lolli:
“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.”
The move by Alibaba sparked discussions across China crypto enthusiasts. The e-commerce platform recently refused to allow people in China to purchase Bitcoin via Alipay. Interestingly, Alibaba offered Bitcoin for free to US-based customers. Chinese based shoppers were not allowed to access the offer in spite of the mission to expose citizens to the crypto and blockchain.