Retail giant Walmart-backed fintech app OnePay will soon offer cryptocurrency trading and storage on its mobile app.
According to CNBC, Walmart-owned fintech firm One Pay will initially support Bitcoin (BTC) and Ethereum (ETH) trading.
One Pay plans to enable Bitcoin and Ethereum trading in the second half of this year by partnering with stablecoin infrastructure startup Zerohash.
By allowing OnePay users to hold Bitcoin and Ethereum within their mobile app, customers will presumably be able to convert their cryptocurrencies into cash and then use it for in-store purchases or to pay off their card balances. This means users can convert BTC/ETH into fiat currency in-app for Walmart purchases and card payments.
OnePay already offers cards, high-yield savings, Buy Now, Pay Later, and a digital wallet. So, adding cryptocurrency to the platform brings the app closer to an all-inclusive digital finance product.
The move also aims to make cryptocurrencies more accessible to everyday consumers by integrating digital assets into Walmart's broader financial ecosystem.
*This is not investment advice.