Walmart's majority-owned fintech venture, OnePay, is set to integrate Bitcoin (BTC) and Ethereum (ETH) trading and custody services into its mobile banking app by the end of 2025. This major initiative will allow users to convert their cryptocurrency holdings into U.S. dollars in near real-time and immediately use the funds for in-store purchases at Walmart or to pay down balances on OnePay credit cards.
The technical infrastructure for this service is being provided by Chicago-based fintech infrastructure company ZeroHash, which recently closed a $104 million funding round. This backend partnership allows OnePay to bypass the regulatory and technical complexities of building its own trading engine, mirroring approaches used by institutional players like Morgan Stanley and Interactive Brokers.
The integration represents a strategic pivot for Walmart, moving beyond traditional banking to bridge the gap between digital assets and everyday consumer spending. OnePay, a joint venture created with partner Ribbit Capital, aims to become a one-stop financial app, combining crypto services with its existing high-yield savings accounts, debit cards, and buy-now-pay-later offerings. The app is already one of the top-five finance applications on the Apple App Store.
Walmart's massive scale is a key factor in this rollout's significance. With approximately 150 million weekly shoppers in the United States alone, OnePay targets a mainstream audience more interested in practical utility than professional trading features. This move occurs amidst growing institutional interest in digital assets and rising demand for retail-friendly crypto payment products.
The initiative places OnePay in direct competition with established fintech platforms like PayPal, Venmo, and Block's Cash App, but with the distinct advantage of deep integration into Walmart's vast retail ecosystem. Industry observers view this as part of a broader trend toward the financialization of retail, where companies like Walmart capture a larger share of the consumer financial lifecycle, potentially reducing reliance on traditional banks and credit card networks.
