Alibaba is the largest retailer and e-commerce platform in the whole world as it hosts the largest Business 2 Business platform Alibaba.com. Alibaba’s sales and profits have surpassed the major e-commerce websites like Walmart, Amazon, and eBay. The company has expanded and launched various platforms such as Alibaba Express or Ali Express, which is an online retail store that promotes small businesses from China and other locations such as Singapore and offers those products to international buyers.
Recently, a Bitcoin-based start-up app, Lolli, has announced its partnership with the global platform Alibaba. The partnership was announced on one of the most eventful days in China’s market, i.e., Singles Day. The day hit a new record of online shopping as the company made sales for about $38 billion.
Free Bitcoin Reward and Alibaba Stock surge
The partnership between Alibaba and Lolli comes with an exciting offer for the users as the companies have teamed up to offer a 5% reward back in Bitcoins. This free Bitcoin reward will be given to those users who purchase on the Chinese platform, but U.S. based users can only avail of this offer.
Alibaba’s largest market, China, won’t be able to avail of this offer despite the country’s shift in blockchain technology and cryptocurrencies. This launch, however, witnessed a 24% increase in international revenue as well as in Alibaba Stock price. CEO of the Lolli app, Alex Adelman, is thrilled to become a partner with the e-commerce giant and offer services to users worldwide.
Since its just the beginning of the partnership, it is slow right now, but with time, things are changing as it would help them establish a robust independent payment system.
Binance CEO reacted to this news with a Tweet saying that Bitcoin is the future of things, and one should start investing in Bitcoins to win in the longer run.