The South Korean tech company Samsung has established a partnership with the Lolli trading application, which is based on cryptocurrency. From this moment forward, Lolli users can buy a wide range of Samsung products (including TVs, mobile phones, washing machines) and get cashback up to 4.5% in Bitcoin.
In October, the South Korean company added support for the tech company Garmin and the brand for cosmetic products Fenty Beauty. In May, the start-up completed a round of financing for $3 million, in which well-known companies took part, for example, Sound Ventures founded by Ashton Kutcher, the world-famous actor.
The Lolli Company, founded in 2018, announced cryptocurrency rewards to American Alibaba users starting November this year. However, it turned out that the Chinese electronic giant did not know about this offer because the partnership was conducted by one of the subcontractors of the giant. As a result, Alibaba asked Lolli to stop using its trademark in advertisement materials.
Lolli currently supports over 1000 stores. Their services are primarily available for US customers. Back in 2019, CNBC included the company in its Upstart 100 list.
