Key Takeaways
- •Walmart is partnering with Zerohash to introduce cryptocurrency trading capabilities within its OnePay app.
- •The initial rollout will focus on enabling trading for Ethereum (ETH) and Bitcoin (BTC) in select U.S. states.
- •The integration is slated for functionality by the end of 2025, with implementation already underway in certain U.S. locations.
- •Regulatory bodies such as the SEC and CFTC have not yet issued official statements regarding this development, and compliance reviews are ongoing.
Walmart's Crypto Endeavor
Walmart is integrating Ethereum and Bitcoin into its OnePay app, with the functionality aiming to be available by the end of 2025. This development has begun implementation in select U.S. states, according to multiple reports.
The collaboration involves Walmart, its fintech subsidiary OnePay, and crypto infrastructure provider Zerohash. The primary objective is to advance the retail adoption of cryptocurrency. OnePay, which was developed with Ribbit Capital, is positioned as a comprehensive digital finance service "super app" that offers features like savings accounts, rewards programs, and debit cards.
Partnership with Zerohash
Zerohash, a crypto infrastructure startup, is providing the essential back-end technology for trading and custody services to support this initiative. The startup recently achieved a valuation of $1 billion following a $104 million funding round, which was led by Interactive Brokers.
Both Walmart and Ribbit Capital are principal funders and strategic partners in the ongoing development of OnePay. Walmart has a history of exploring fintech innovations, including a previous attempt to launch its own stablecoin.
Cryptocurrency Integration in OnePay
Consumers will have the ability to trade Ethereum (ETH) and Bitcoin (BTC) for retail purchases, both in physical stores and through the OnePay app. While stablecoins such as USDC and USDT are not currently included as live trading assets, there is potential for their future adoption.
The initial phase of this integration will not include other DeFi tokens or governance coins. As the new payment method has not been fully implemented, specific on-chain data, such as Total Value Locked (TVL) or liquidity flows, is not yet available.
Regulatory Landscape
Currently, there have been no official statements from regulatory agencies like the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC) regarding this specific development. However, the in-app support is designed to adhere to Know Your Customer (KYC) requirements and consumer protection standards. Zerohash's technology is built to support regulated and compliant crypto infrastructure.
There have been no direct comments from prominent figures in the cryptocurrency space or from Walmart executives concerning the precise launch date. This suggests a cautious rollout approach, with compliance reviews still in progress.
Comparative Developments in Crypto Retail
Similar initiatives undertaken by companies like PayPal and Samsung in integrating cryptocurrency have contributed to accelerating mainstream adoption. PayPal's inclusion of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) since its launch in 2020 has demonstrably increased retail adoption.
Samsung's integration with Coinbase, planned for 2025, aims to improve consumer access to cryptocurrencies. These past developments can provide valuable context for Walmart's strategic move toward integrating Ethereum and Bitcoin payments.
This move positions Ethereum and Bitcoin as potential payment options for millions of American consumers, representing a significant advancement toward widespread cryptocurrency adoption. Further updates on Walmart's crypto integration will be provided.