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- The move aligns with Walmart’s broader push into stablecoins and digital payments, supported by the Trump administration’s GENIUS Act.
- OnePay’s rollout could bring crypto access to millions of U.S. consumers, driving retail participation amid a bullish crypto market.
OnePay, the Walmart-backed fintech platform, is preparing to launch its crypto trading and custody services in its mobile banking app later this year. As part of the initial services, the fintech platform will allow trading for Bitcoin (BTC) and Ethereum (ETH).
According to a CNBC report, the rollout will allow users to convert crypto to cash directly within the app, enabling them to spend on Walmart purchases or pay down card balances. The integration will be powered by ZeroHash, a crypto infrastructure startup tasked with embedding the digital asset functionality into OnePay’s platform.
ZeroHash recently raised over $104 million in funding from leading financial institutions. The capital raise supports the company’s broader strategy of partnering with banks and brokerage firms to develop and integrate cryptocurrency products.
Walmart Prepares for A Broader Digital Assets Push
The latest report comes amid Walmart’s growing interest in U.S. dollar-backed stablecoins and comes amid a more favorable U.S. policy environment for crypto. Earlier this year, in June, Walmart was exploring the launch of its own U.S. dollar–backed stablecoins aimed at reducing payment friction.
The goal behind this was to accelerate settlement times while lowering costs associated with traditional financial systems.
It seems that Walmart is now pushing further with the Trump administration’s GENIUS Act, which establishes a federal framework for stablecoins. Moreover, a recent executive order enabling crypto in 401(k) plans has created new regulatory pathways for mainstream adoption.
The broader crypto market continues to strengthen despite the ongoing U.S. government shutdown, now in its third day. Bitcoin recently surpassed $121,000, buoyed by “Uptober” momentum and steady inflows into spot Bitcoin ETFs. The total stablecoin market cap also crossed $300 billion for the first time, underscoring renewed capital flows into the sector.
“The breakout above $120,000 validates the ‘Uptober’ trade,” said Timothy Misir, head of research at BRN, noting that macro headlines have not derailed the bullish sentiment.
Mainstream Access Could Drive Retail Adoption
If completed, OnePay’s crypto integration would place digital asset access directly into one of America’s largest retail ecosystems, enabling buy, hold, and spend functionality for millions of users.
The move could mark a pivotal expansion of crypto distribution at big-box scale, potentially amplifying retail participation as traders and investors anticipate another seasonal fourth-quarter rally in the crypto markets.
The development follows growing cryptocurrency adoption in the U.S., as major financial institutions expand their presence in the sector. Just last month, Morgan Stanley announced plans to enable retail clients to access digital assets through its E-Trade platform.
