Walmart-Backed Fintech OnePay to Launch Bitcoin Trading on App
Walmart-backed OnePay to Launch Crypto Trading
OnePay, a fintech firm supported by Walmart, plans to introduce Bitcoin and other digital asset trading and custody services on its mobile app later this year.
The app will initially support BTC and ETH, utilizing the startup Zerohash for these services.
Founded in 2021 with Ribbit Capital, OnePay aims to become a super app for digital finance in the U.S., adding crypto trading to its offerings.
The app already provides high-yield savings accounts, credit and debit cards, buy now-pay-later loans, and wireless plans.
Users will be able to hold BTC and ETH directly in the app and convert cryptocurrency into cash for in-store purchases or credit card payments.
This development follows broader U.S. acceptance of cryptocurrencies, with institutions like Morgan Stanley entering the market.
Zerohash, powering OnePay’s crypto services, recently raised over $104 million to partner with banks and brokers in building crypto products.
OnePay may leverage Walmart's large distribution network to reach approximately 150 million Americans weekly.
Operating independently from Walmart, OnePay can cater to a wider audience, including those underserved by traditional banking.
