u.today
South Korean electronics giant has renewed its partnership with cryptocurrency-focused shopping app Lolli that was initially announced back in February 2019.
From now on, Lolli users can purchase various Samsung products (TV, washers, mobile phones) and earn up to 4.5 percent back in Bitcoin rewards.
The company also added support for technology company Garmin and cosmetics brand Fenty Beauty last month.
In May, the startup wrapped up a $3 mln seed round that had such notable participants as Sound Ventures, a venture capital firm founded by superstar actor Ashton Kutcher.
Lolli — which was founded back in 2018 — started offering cryptocurrency awards to the American users of Alibaba back in November.
However, it turned out that Chinese e-commerce giant wasn’t even aware of this offering, and the partnership was actually signed with one of its subcontractors. Alibaba then barred Lolli from using its trademark in its promotional materials after finding out about the dubious “partnership.”
Presently, Lolli supports over 1,000 top stores but it is only available for U.S.-based customers.