KEY FACTS: Walmart's majority-owned banking app, OnePay, is set to introduce Bitcoin and Ether trading and custody services by the end of 2025, a move that positions the retail giant as a pioneer in integrating cryptocurrency into a mainstream financial "superapp." Aimed at rivaling platforms like China's WeChat, OnePay already offers high-yield savings, credit cards, loans, and wireless plans to millions of users, leveraging Walmart’s massive customer base of over 240 million weekly shoppers. This crypto expansion aligns with a more permissive U.S. regulatory environment under SEC Chairman Paul Atkins, potentially accelerating mainstream crypto adoption.

Source: OnePay

Walmart's OnePay Banking App Set to Integrate Bitcoin and Ether Trading by Year's End

Walmart, the retail behemoth, is preparing to infuse cryptocurrency trading directly into its majority-owned banking app, OnePay. The app will roll out support for Bitcoin (BTC) and Ether (ETH) trading and custody services later this year, marking a significant pivot toward embracing digital assets in mainstream consumer finance.

This development comes at a time when regulatory winds appear to be shifting in favour of innovation in the crypto space. With the U.S. Securities and Exchange Commission (SEC) signaling a more permissive stance under its current leadership, OnePay's expansion could position Walmart as a frontrunner in the race to create the West's first true "superapp" – a multifunctional platform that seamlessly blends banking, shopping, payments, and now cryptocurrency services.

Walmart's foray into fintech is not entirely new, but the addition of crypto capabilities represents a quantum leap. OnePay, launched as a mobile-first banking solution, is majority-owned by the world's largest retailer and aims to emulate the success of China's WeChat – the ubiquitous "superapp" that has revolutionized daily life for over a billion users. WeChat is not just a messaging tool; it's an ecosystem unto itself. Users rely on it for everything from casual chats and social networking to instant payments, online shopping, bill settlements, food delivery, and even booking travel itineraries or hailing rides. Mini-apps within the platform allow developers to build specialized services, creating a closed-loop economy that's both convenient and addictive.

In the U.S., OnePay is positioning itself as the American counterpart to this model. Currently, the app boasts an impressive array of financial products tailored for everyday consumers: high-yield savings accounts that outpace traditional banks, flexible credit and debit cards with rewards, personal loans for quick cash needs, and even bundled wireless plans for mobile users. With millions of downloads and a growing user base drawn from Walmart's vast customer footprint (the company serves over 240 million shoppers weekly across its stores and online channels), OnePay has already carved out a niche in the crowded digital banking arena.

Insiders cited by CNBC suggest that the integration of Bitcoin and Ether stems from user demand for diversified investment options within a single app. "Consumers want simplicity," one anonymous source told the outlet. "Why switch between apps for checking balances, buying groceries, and trading crypto when you can do it all in one place?" By year-end, OnePay users will reportedly be able to buy, sell, hold, and potentially stake these leading cryptocurrencies, with custody handled securely through integrated wallets. While exact fees or minimum investment thresholds remain under wraps, the move aligns with Walmart's strategy to deepen customer loyalty in an era where digital natives expect their financial lives to be as frictionless as scrolling through social media.

OnePay's crypto push arrives amid a broader thaw in U.S. financial regulations, particularly regarding digital assets. SEC Chairman Paul Atkins, who assumed the role earlier this year, has been vocal about recalibrating oversight to foster innovation without stifling growth. In a speech earlier this month, Atkins articulated that regulators should provide the minimum effective dose of regulation needed to protect investors, and no more. This "light-touch" approach could pave the way for superapps to offer a smorgasbord of services – from trading stocks and cryptocurrencies to lending and staking – all under one regulatory umbrella, rather than navigating a patchwork of rules.

Atkins' comments resonate deeply in the crypto community, where years of enforcement actions under previous leadership have cast a shadow over the industry. His tenure has already seen preliminary approvals for spot Bitcoin and Ether ETFs, injecting billions into the market and legitimizing crypto as an asset class for retail investors. For platforms like OnePay, this means fewer hurdles to embedding crypto features, potentially accelerating adoption among Walmart's blue-collar and middle-class clientele, many of whom are new to digital finance.

OnePay is not venturing into uncharted territory alone. The superapp concept, which has long been dominant in Asia, is experiencing a resurgence in the West, driven by the convergence of fintech, blockchain, and artificial intelligence. Just last month, Coinbase CEO Brian Armstrong unveiled ambitious blueprints for a "crypto superapp" that would rival legacy banks. Envisioned as a one-stop shop, it promises credit cards with crypto rewards, seamless payment rails, and Bitcoin-backed incentives for everyday spending.

Across the Pacific, South Korea's fintech darling Toss is making waves Down Under. The unicorn startup, valued at over $8 billion, announced in September its intent to launch a finance-focused superapp in Australia this year. Dubbed "Toss Global," it will integrate banking, investments, insurance, and – pending regulatory nods – a Korean won-pegged stablecoin for frictionless transactions. Toss's domestic success, boasting 20 million users who handle everything from stock trades to peer-to-peer lending, positions it as a blueprint for OnePay's ambitions.

Even tech titans are circling the superapp arena. Elon Musk's X (formerly Twitter) has been quietly evolving into an "everything app," with recent leaks revealing AI-powered features for personalized finance advice, e-commerce integrations, and crypto wallets. While X's timeline remains opaque, its 500 million-plus users could make it a formidable competitor to Walmart's retail-tied ecosystem. Yet the opportunities are abounding. Embedding crypto into a platform already trusted by millions could help OnePay to onboard the next wave of users to the blockchain economy.

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