Walmart’s OnePay App to add Bitcoin and Ethereum trading
Highlights
- OnePay will partner with Zerohash to offer its customers Bitcoin and Ethereum access.
- The firm reportedly sees crypto as a core offering as it plans to build an "everything app."
- This comes as more companies look to offer crypto services to their clients.
Walmart’s OnePay App is the latest company to jump on the crypto wave, with plans to offer Bitcoin and Ethereum trading to its customers. The company also reportedly views crypto as a core offering amid plans to build an all-in-one application.
OnePay App To Soon Offer Bitcoin And Ethereum Trading Services
According to a CNBC report, the fintech firm owned mainly by Walmart will soon start offering crypto trading and custody on its mobile app. The firm plans to begin by offering access to Bitcoin and Ethereum later this year in partnership with Zerohash.
This move comes as more companies look to offer crypto access to their customers. As CoinGape reported, banking giant Morgan Stanley also plans to roll out crypto trading services to its E-trade clients in partnership with Zerohash.
Meanwhile, CNBC noted that OnePay’s move indicates its vision for crypto as part of its core offering, amid plans to build the “everything app” for digital finance. The firm has already integrated new products as it seeks to build a U.S. super app similar to its overseas offerings, such as WeChat.
On Super Apps For Crypto And Other Services
Notably, this aligns with the SEC Chair Paul Atkins’ vision under Project Crypto. Atkins has earlier stated that the commission plans to enable market participants to innovate with Super Apps, under which they will be able to offer several services and products on a single platform and with a single license.
That way, broker-dealers will be able to offer trading in non-security assets alongside crypto asset securities. OnePay is just one of many firms that are working on building a Super App. Coinbase has also revealed plans to become the ‘Everything Exchange’ as it looks to offer diverse financial services.
The top crypto exchange plans to begin offering tokenized equities at some point alongside its existing crypto offerings. Coinbase is also looking to offer its prediction markets. Meanwhile, Robinhood also has similar plans, with the exchange already offering crypto and stock trading access alongside its prediction markets.
OnePay is expected to have an edge over these platforms due to its distribution channel, as it is currently integrated into Walmart’s online and in-person checkout process. The American retailer presently serves 150 million customers, who shop at its U.S. locations.
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