Thesis* buys Bitcoin rewards platform Lolli as cryptocurrency's real growth driven by everyday interactions
Venture studio, Thesis*, has announced its acquisition of Lolli, a Bitcoin rewards platform, with the aim of accelerating mainstream adoption of the cryptocurrency by enhancing consumer experiences through expanded rewards, faster payouts, and innovative partnerships.
Financial terms of the deal were not disclosed.
Matt Luongo, Co-founder at Fold and CEO at Thesis*, will now head up Lolli. Under Luongo's leadership, Fold became the first publicly traded Bitcoin financial services company, focusing on crypto rewards for everyday transactions.
"Having competed alongside Lolli for years, I've admired their ability to onboard users through accessible and engaging experiences," he says. "At Thesis*, we believe Bitcoin's real growth is driven by everyday interactions - shopping, gaming, spending - not just investment portfolios. Together, we're creating the easiest and most rewarding entry point for millions to join the Bitcoin economy."
Thrilled to announce that we've acquired @trylolli!
— Matt Luongo ✜ (@mhluongo) July 2, 2025
For me, this is a homecoming. After helping start the Bitcoin rewards space @fold_app in 2014, I’m doubling down on our vision to help the world stack sats.
Here’s why this acquisition is HUGE for Bitcoin rewards 👇 pic.twitter.com/bvaRSoLOOE
"We are excited to join forces with Thesis* to power the next phase of Bitcoin adoption through rewards with Lolli," says Alex Adelman, Founder and former CEO at Lolli. "We've always aimed to make Bitcoin easy, fun, and rewarding for everyone. With Thesis*' deep infrastructure expertise and shared vision, we can significantly enhance our platform and accelerate global adoption."
Thesis* says that it will undertake essential infrastructure upgrades, including migrating Lolli to a more robust, scalable system. Since its inception in 2018, the venture has rewarded over 600,000 users with more than $20 million in Bitcoin through everyday shopping, gaming, and online activities.
2025 RTIH INNOVATION AWARDS
Rewards platforms will be a key focus area at the 2025 RTIH Innovation Awards.
The awards, which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.
Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.
In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”
He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”
“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”
Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering.
For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.
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