Walmart’s OnePay to Add Crypto Trading and Custody

Walmart-backed fintech OnePay, a mobile app currently serving around 1.5 million users, is reportedly preparing to launch cryptocurrency trading and custody features later this year.

The planned integration would allow users to buy, hold, and convert Bitcoin and Ether directly in-app, positioning OnePay alongside major US fintech peers such as PayPal, Venmo, and Cash App. As part of Walmart, the world’s largest retailer, OnePay aims to expand its reach and solidify its role as a comprehensive digital finance platform for retail consumers.

OnePay Plans to Integrate Crypto for 1.5 Million Users

OnePay, launched in 2021 with investment from Walmart and Ribbit Capital, currently provides banking, payments, credit, and savings services. Over the past two years, the app has expanded its product line to include credit cards and mobile service plans, signaling ambitions to become a full-spectrum financial platform.

According to reports citing people familiar with the matter, OnePay plans to enable users to buy, hold, and convert Bitcoin (BTC) and Ether (ETH) directly within the app by the end of 2025. Zerohash, a Chicago-based blockchain infrastructure provider, will reportedly power these crypto capabilities.

If implemented, the addition would position OnePay alongside established US fintech firms such as PayPal, Venmo, and Cash App, allowing users to trade digital assets through their apps. The initiative underscores OnePay’s broader effort to evolve into a “super app” that consolidates payments, banking, lending, and crypto functions under a single digital ecosystem.

Zerohash to Power OnePay’s Crypto Trading and Custody

Zerohash, which recently raised $104 million in a funding round that included Morgan Stanley participation, will be the technological foundation for OnePay’s planned crypto rollout. The firm provides APIs for trading, custody, and asset conversion to connect traditional financial systems with blockchain-based assets.

By leveraging Zerohash’s existing infrastructure, OnePay may reduce regulatory and development complexity while gaining rapid access to crypto functionality. However, challenges remain substantial. Compliance with US securities laws, anti-money laundering (AML) protocols, and know-your-customer (KYC) obligations will be essential. Custody risk, insurance, and transaction security must also be addressed to protect retail users from exposure to market and operational volatility.

The partnership could accelerate OnePay’s entry into crypto finance but will require transparent oversight and robust internal controls. Execution quality and regulatory clarity will determine whether the integration can scale sustainably in the US financial landscape.

OnePay Aims to Compete with US Fintech Giants

OnePay’s expansion into crypto may deepen user engagement by encouraging customers to manage all financial activities within a single app. Walmart’s broad retail ecosystem could provide a built-in distribution network, potentially linking in-store and digital financial services for millions of US consumers.

Yet, risks persist. Neither OnePay nor Zerohash has publicly confirmed the timeline or scope of the rollout, and crypto market volatility continues to pose reputational and compliance risks. As regulators in the US intensify scrutiny of consumer-facing crypto services, OnePay will need to demonstrate robust consumer protections, clear disclosures, and secure custody mechanisms.

For Walmart, the initiative represents a cautious step toward digital asset adoption that could redefine its fintech arm’s position in the competitive US neobank and digital payments market. In June, Walmart was reported to be considering issuing its own stablecoin.

Crypto Integration Trends Among US and Global Fintechs

OnePay’s entry into crypto follows a growing trend among prominent fintech and financial institutions worldwide. In the US, platforms such as PayPal, Venmo, and Cash App have integrated crypto trading and custody, albeit with limited asset transferability or withdrawal options. Institutional-grade players like Anchorage Digital provide qualified custody and settlement services for funds and enterprises, while Bakkt offers regulated business trading and custody infrastructure.

Globally, European financial institutions are moving in the same direction. Deutsche Börse’s Clearstream is developing institutional custody and settlement services for Bitcoin and Ether. At the same time, BNY Mellon has launched its own digital asset custody platform for select clients in the US.

Compared to these models, OnePay targets a different segment — retail consumers within a broader financial ecosystem. Its approach merges consumer fintech convenience with backend institutional-grade infrastructure, signaling the next phase of mainstream crypto integration into everyday financial applications.