This news came from Lolli’s CEO Alex Adelman, who recently spoke about Lolli’s partnership with Safeway and how this now gives users the ability to order a wide variety of Safeway products to pick up later in-store. Adelman says that this expansion came about so as to fill a need for customers who needed certain products, stating:
“We saw a demand from users to earn bitcoin for everyday expenses like food and pharmacy”
While most of Lolli’s online partners feature an extensive catalog of products to choose from, this partnership will help consumers gain easier access to everyday items that they need to purchase regularly.
Lolli’s expansion with Safeway helps to build upon its already impressive portfolio of partnerships, which includes 750 major companies such as Macy’s, Hilton, and Barnes&Noble. By making purchases through the app, Lolli users are able to earn 3 to 5 percent of their purchase back in Bitcoin, which can be especially exciting for the 40 percent of users who are new to digital currencies.
The company states that the average user has accumulated around $26 in Bitcoin so far, although it takes a couple of months for the return period to close before the funds can be paid out.
While the company has been transparent about these new developments, it has not yet opened up about expected future performance. However, given the fact that it has a user base in the tens of thousands and launched with $2.35 million from major investors like Bain Capital and the Digital Currency Group, we can assume that Lolli will continue to grow and make a major impact on Bitcoin adoption.