Walmart's OnePay to Convert Crypto to Cash for 150M Shoppers by 2025

Walmart-backed fintech firm OnePay announced plans to launch Bitcoin (BTC) and Ethereum (ETH) trading and custody services on its mobile banking app later in 2025, marking a significant step toward mainstream cryptocurrency adoption. The service, powered by crypto infrastructure provider Zerohash, will allow users to convert their crypto holdings into fiat currency for in-store purchases at Walmart or to settle card balances. OnePay, which already offers banking, lending, and digital wallet services, aims to position itself as a U.S. "superapp" akin to China's WeChat, integrating multiple financial services into a single platform Walmart: OnePay is rolling out crypto to mobile banking app^[1].

The partnership with Zerohash, a startup that recently raised $104 million in funding from firms like Morgan Stanley and Interactive Brokers, will handle custody of user assets. While the service is not yet available in all U.S. states and lacks FDIC or SIPC coverage, it aligns with a broader trend of institutional players entering the crypto space. OnePay's app, currently ranked fifth on Apple's free finance app store, has already attracted attention for its integration with Walmart's 150 million weekly shoppers, giving it a unique distribution advantage Walmart: OnePay is rolling out crypto to mobile banking app^[1].

The move reflects Walmart's strategy to expand its financial services beyond retail, leveraging its customer base to compete with traditional banks and fintech rivals. OnePay's CEO, who co-founded the firm with venture capital firm Ribbit Capital in 2021, emphasized the platform's potential to bridge the gap between digital assets and everyday spending. By enabling users to convert crypto into cash for Walmart transactions, the service could accelerate crypto adoption among a demographic traditionally underserved by traditional banking Walmart-Backed OnePay Ignites Mainstream Crypto Adoption with …^[2].

Market analysts suggest the launch could disrupt existing crypto exchanges and traditional financial institutions. Competitors like Coinbase and Robinhood may face pressure as OnePay's trusted brand association with Walmart attracts mainstream users. Meanwhile, traditional banks like Morgan Stanley, which recently announced crypto services through its E-Trade subsidiary, could see increased competition in the retail finance sector. The integration of crypto into Walmart's ecosystem also highlights the growing role of corporate partnerships in scaling digital asset adoption Walmart-Backed OnePay Ignites Mainstream Crypto Adoption with …^[2].

Regulatory developments further support the initiative. The U.S. Securities and Exchange Commission (SEC) has signaled openness to multi-service financial platforms, with officials advocating for streamlined oversight for "superapps" offering trading, lending, and staking under a unified framework. This shift aligns with broader institutional comfort with crypto, as seen in recent approvals for crypto services by major banks and fintechs .

For users, the service offers a practical use case for crypto beyond speculation. By linking digital assets to daily transactions, OnePay addresses a key barrier to adoption: utility. The ability to convert crypto into fiat for Walmart purchases could incentivize new users to explore crypto holdings while reducing reliance on traditional payment methods. However, risks such as market volatility and cybersecurity threats remain, requiring robust safeguards from both OnePay and Zerohash Walmart: OnePay is rolling out crypto to mobile banking app^[1].

The launch underscores Walmart's ambition to dominate the U.S. fintech landscape. With its existing services and the addition of crypto, OnePay is positioning itself as a one-stop financial hub for millions of Americans. As the crypto market continues to evolve, the success of this initiative could reshape how consumers interact with digital assets, further blurring the lines between traditional finance and decentralized ecosystems Walmart-Backed OnePay Ignites Mainstream Crypto Adoption with …^[2].