Walmart-Backed OnePay Goes Live with Bitcoin Payments for 150 Million Weekly US Shoppers

Walmart-backed OnePay has launched new Bitcoin and Ethereum trading and custody services within its mobile banking app. The feature allows users to convert digital assets into U.S. dollars immediately and use them for in-store purchases or credit card payments. The platform is now integrating digital asset utility into its retail ecosystem, targeting 150 million weekly U.S. shoppers.

OnePay users can convert their cryptocurrency holdings into fiat currency in near real-time, eliminating traditional delays in transferring funds to a bank account. This cash can be used for Walmart purchases or charged to OnePay credit cards. The move aims to bridge the gap between digital assets and everyday spending, particularly for consumers who prioritize utility over trading.

The backend for these services is provided by ZeroHash, a fintech infrastructure company with institutional-level capabilities. This collaboration enables OnePay to handle high-volume transactions while complying with U.S. financial regulations. The partnership mirrors approaches used by major brokerage firms like Morgan Stanley's E-Trade.

Why the Move Happened

Walmart is expanding its financial technology presence through its majority-owned fintech business, OnePay. The platform has become one of the top-five finance apps on the Apple App Store, and this move is part of its broader strategy to compete with fintech platforms like PayPal and Cash App.

The integration of Bitcoin and Ethereum reflects growing institutional interest in digital assets, especially as Bitcoin surpasses $120,000 and stablecoin market capitalization hits record highs. Walmart is targeting a segment of consumers who are less focused on trading but more interested in the practical utility of their assets.

How Markets Responded

OnePay's launch positions it to compete directly with major fintech companies that have offered crypto support for years. The platform benefits from its deep integration with traditional retail, allowing users to manage paychecks, rewards, and digital assets within the same ecosystem.

Industry observers note that this move is part of a broader trend toward financialization of retail. By offering a digital wallet that supports both fiat and crypto, Walmart is taking a larger role in the financial lifecycle of its customers.

What Analysts Are Watching

Analysts are closely monitoring how OnePay's integration affects traditional banks and credit card networks. By providing a seamless way to convert digital assets into spendable cash, Walmart could reduce reliance on these intermediaries, potentially lowering transaction costs.

The success of this initiative will depend on regulatory clarity and technological scalability. As tokenized assets and DeFi continue to gain traction, Walmart's approach could force established financial players to adapt or risk becoming irrelevant.