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Lolli Comments about its Relationship with Alibaba

Lolli comments about its relationship with Alibaba

  • Lolli had partnered with Alibaba during a single day and had reportedly enabled the shoppers to get 5% back in Bitcoin.
  • Rejection from Alibaba’s end has put Lolli in a tight spot and has put the whole company’s reputation at stake.
  • Alibaba is working to make sure it doesn’t maintain any businesses or transactions related to Bitcoin or any other cryptocurrencies.

Alibaba, the Chinese e-commerce giant, has refused to have any business relationship with the Bitcoin rewarding app, Lolli.

After a successful singles day business, Alibaba released a statement that it did not partner with Lolli to reward Bitcoin for customers.

However, CEO of Lolli, Alex Adelman has denied Alibaba’s statement and saying that they had a partnership with Alibaba through Aliexpress since May and has been rewarding its users with bitcoins.

It was reported that Lolli had partnered with Alibaba during a single day and had reportedly enabled the shoppers to get 5% back in Bitcoin. Alibaba has refused the same telling that they did not have any partnership and they don’t have any right to claim partnership with Alibaba Group.

Alex Adelman feels that the whole news is unfair for Lolli as they had an agreement with the agency that was representing Alibaba and they clearly had the partnership to roll out Bitcoin offers to the customers. Rejection from Alibaba’s end has put Lolli in a tight spot and has put the whole company’s reputation at stake.

Alibaba’s strong disagreement towards the Bitcoin business can be tracked down to the company’s native country – China’s strong opposition to crypto in the recent past. Alibaba is working to make sure it doesn’t maintain any businesses or transactions related to Bitcoin or any other cryptocurrencies. This has become a fragile situation for both Lolli and Alibaba in business terms.



This post first appeared on Coin Market, please read the originial post: here

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Lolli Comments about its Relationship with Alibaba

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