OnePay Expands Mobile Banking App to Include Cryptocurrency
OnePay, a fintech company majority-owned by retail giant Walmart, is set to introduce cryptocurrency trading and custody services within its mobile banking app. The launch, expected later this year, will provide customers access to bitcoin and ether, facilitated through a partnership with crypto startup Zerohash.Building a Comprehensive Digital Finance Platform
Founded in 2021 by Walmart and Ribbit Capital, OnePay has steadily expanded its product suite to become an American “everything app” for digital finance. Its offerings currently include high-yield savings accounts, credit and debit cards, buy now, pay later loans, wireless plans, and a digital wallet supporting peer-to-peer payments. The integration of cryptocurrency trading marks a significant step in OnePay’s evolution, allowing users to hold, trade, and potentially convert bitcoin and ether into cash within the app. This capability could enable seamless use of crypto assets for Walmart purchases or to settle card balances.Mainstream Adoption of Cryptocurrency Gains Momentum
Cryptocurrency adoption is accelerating across the financial sector. After regulatory shifts and increased acceptance, major banks are now offering crypto services. For example, Morgan Stanley recently announced plans to provide retail clients with direct crypto access through its E-Trade platform. Zerohash, OnePay’s crypto partner, recently secured $104 million in funding from prominent financial firms, including Morgan Stanley and Interactive Brokers. This investment supports Zerohash’s strategy to collaborate with banks and brokers to build integrated crypto products.OnePay’s Market Traction and Competitive Edge
OnePay’s mobile app is gaining significant traction, currently ranking fifth among free finance apps on Apple’s App Store. It surpasses established players such as JPMorgan Chase, Robinhood, and Chime. Notably, most apps ahead of OnePay, including PayPal, Venmo, and Cash App, already offer cryptocurrency services. A key advantage for OnePay lies in its integration with Walmart’s extensive retail ecosystem, providing access to approximately 150 million weekly U.S. shoppers. Although affiliated with Walmart, OnePay operates independently to appeal broadly to Americans underserved by traditional banking.FinOracleAI — Market View
OnePay’s integration of cryptocurrency capabilities represents a strategic move to position itself as a versatile digital finance platform. By leveraging Walmart’s distribution network and partnering with Zerohash, OnePay could accelerate mainstream crypto adoption among everyday consumers.- Opportunities: Expands OnePay’s user base by attracting crypto-savvy customers; enhances customer engagement through integrated financial services; leverages Walmart’s retail footprint for seamless crypto-to-fiat transactions.
- Risks: Regulatory uncertainties around crypto could impact product rollout; competition intensifies as traditional banks and fintechs expand crypto offerings; user adoption depends on education and trust in crypto services.
Impact: This development is positive for OnePay’s growth trajectory and signals increasing mainstream integration of cryptocurrency within traditional financial services.
