Walmart’s fintech arm OnePay will soon allow users to trade Bitcoin and Ethereum on its mobile app. The service is expected later this year, according to a report from CNBC. The company will partner with Chicago-based startup Zerohash to power the new trading and custody features.
OnePay, founded in 2021 by Walmart and venture firm Ribbit Capital, has been adding financial services step by step. It already offers savings accounts, debit and credit cards, loans, and wireless plans. The firm now wants to create what it calls an “everything app” for American users.
By adding crypto, OnePay customers could store Bitcoin and Ethereum directly in the app. They may also convert the coins into cash and use the funds for shopping at Walmart stores or paying off card balances. This addition makes Bitcoin and Ethereum part of OnePay’s growing list of services
Meanwhile, other large firms are making similar moves. Morgan Stanley is preparing to let retail clients trade crypto through its E-Trade unit. At the same time, Coinbase said in an interview with Fox Business that the company plans to build an “everything exchange” with wider services, while Robinhood has already combined crypto and stock trading.
OnePay stands out because of its reach. Walmart serves around 150 million customers each week. The app is tied into both in-store and online checkout, giving it a ready base of users. OnePay has also climbed Apple’s free finance app rankings, where it now sits ahead of major banks and competitors.
The timing also matches new thinking from regulators. SEC Chair Paul Atkins recently said, “I believe regulators should provide the minimum effective dose of regulation.” He described plans for platforms that can offer many financial products under one license. This could support super apps that combine lending, payments, and crypto trading.
OnePay’s entry into crypto highlights how mainstream companies are turning digital currencies into a standard
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