Walmart’s OnePay to Introduce Crypto Trading and Custody: Report

Core Insights - OnePay, a fintech firm majority-owned by Walmart, is set to introduce cryptocurrency trading and custody features in its mobile app, enabling U.S. consumers to buy, hold, and spend digital assets like Bitcoin and Ethereum [1][2] - The integration of crypto services is part of OnePay's strategy to evolve into a comprehensive digital finance platform, similar to popular super apps like WeChat [2][3] - By allowing customers to convert crypto holdings into cash for use at Walmart, OnePay aims to enhance its digital finance strategy and connect crypto adoption with its retail ecosystem [4] Company Overview - OnePay was founded in 2021 through a joint venture between Walmart and Ribbit Capital, and has expanded its financial offerings to include high-yield savings accounts, debit and credit cards, and buy now, pay later options [3] - The app currently ranks fifth on the Apple App Store for free finance apps, outperforming competitors like JPMorgan Chase, Robinhood, and Chime, which already offer crypto features [7] Industry Context - The expansion of OnePay's services comes amid a broader trend of increasing cryptocurrency adoption in the U.S., spurred by policy changes during President Trump's administration [5] - Major financial institutions, including Morgan Stanley, are rapidly integrating digital assets into their offerings, indicating a shift in the financial landscape [5][6] - Zerohash, the infrastructure provider for OnePay's crypto services, recently raised $104 million in funding, positioning itself as a key player in the fintech and banking sectors [6]