The Walmart-backed fintech firm OnePay will start offering cryptocurrency trading and custody on its mobile app, according to CNBC.
OnePay, which is majority-owned by Walmart (NYSE:WMT), is teaming up with Zerohash to offer access to Bitcoin (BTC-USD) and Ethereum (ETH-USD) later this year. Customers could be able to convert cryptocurrencies into cash and use those funds to make purchases or pay off card balances, a CNBC report said.
OnePay was founded by Walmart (NYSE:WMT) and Ribbit Capital in 2021 and has added new products such as WeChat – a Chinese social media and instant messaging payment app developed by Tencent (OTCPK:TCEHY).
OnePay also offers banking services such as high-yield savings accounts, credit cards and debit cards, and ‘buy now, pay later’ services, as well as integrated on-line and in-person checkout processes at Walmart’s U.S. locations.
Last month, Morgan Stanley (MS) also teamed up with Zerohash to offer cryptocurrency to its E*Trade customers starting in 2026.
Zerohash raised $104M in funding last month from firms including Morgan Stanley (MS) and Interactive Brokers (IBKR).
Under President Donald Trump’s administration, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation withdrew restrictive crypto guidance from 2023, signaling a major policy shift toward integrating digital assets into the mainstream banking system.