Walmart-backed OnePay will offer crypto later this year – report

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The Walmart-backed fintech firm OnePay will start offering cryptocurrency trading and custody on its mobile app, according to CNBC.

OnePay, which is majority-owned by Walmart (NYSE:WMT [https://seekingalpha.com/symbol/WMT]), is teaming up with Zerohash to offer access to Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) and Ethereum (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) later this year. Customers could be able to convert cryptocurrencies into cash and use those funds to make purchases or pay off card balances, a CNBC report said.

OnePay was founded by Walmart (NYSE:WMT [https://seekingalpha.com/symbol/WMT]) and Ribbit Capital in 2021 and has added new products such as WeChat – a Chinese social media and instant messaging payment app developed by Tencent (OTCPK:TCEHY [https://seekingalpha.com/symbol/TCEHY]).

OnePay also offers banking services such as high-yield savings accounts, credit cards and debit cards, and ‘buy now, pay later’ services, as well as integrated on-line and in-person checkout processes at Walmart’s U.S. locations.

Last month, Morgan Stanley (MS [https://seekingalpha.com/symbol/MS]) also teamed up [https://seekingalpha.com/news/4497841-morgan-stanley-teams-up-with-zerohash-to-offer-crypto-to-e-trade-users-report] with Zerohash to offer cryptocurrency to its E*Trade customers starting in 2026.

Zerohash raised $104M in funding last month from firms including Morgan Stanley (MS [https://seekingalpha.com/symbol/MS]) and Interactive Brokers (IBKR [https://seekingalpha.com/symbol/IBKR]).

Under President Donald Trump’s administration, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation withdrew restrictive crypto guidance from 2023, signaling a major policy shift toward integrating digital assets into the mainstream banking system.

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