According to a recent report by CoinDesk, the company has started to expand beyond the internet and its 750 online merchants to include brick and mortar retail locations. The first major partnership announced this past week was Albertson’s subsidiary Safeway.
Highlight: “Right now, we’re trying to make bitcoin accessible to everybody,” @trylolli CEO @alexadelman says. “And so we’re trying to make Bitcoin part of everyone’s daily life. … We’re bringing this whole new wave of users into bitcoin already.” Full interview: pic.twitter.com/Sza0YG9GbE
— Yahoo Finance (@YahooFinance) July 25, 2019
According to Lolli CEO Alex Adelman, the average Lolli user has earned around $26 in Bitcoin through 3-5% returns on purchases. Additionally, around 40% of Lolli users are completely new to cryptocurrency with 30% being female.
“We saw a demand from users to earn bitcoin for everyday expenses like food and pharmacy,” Adelman said in an interview with CoinDesk.
Lolli previously closed a $2.25 million seed round from notable investors, including Bain Capital Ventures and Digital Currency Group.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.