China-based ecommerce company Alibaba has partnered with Bitcoin rewards shopping app Lolli, to enable its shoppers to earn 5% back in Bitcoin.
Through this agreement, Alibaba customers who shop online are allowed to get Satoshis (sats), the smallest unit of Bitcoin currency. Satoshis is worth 0.00000001 BTC. The announcement was made on 11 November, a shopping holiday that is celebrated in China called Singles Day.
As per a Coindesk report, the new program will only be available for purchases in the US. Lolli suggested that residents in China will not be able to participate, but products would be shipped from China to the US users.
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