Walmart-backed fintech platform OnePay is preparing to add cryptocurrency trading to its mobile banking app, a move that positions the retail giant’s financial arm firmly in the middle of the growing digital asset economy. The integration, set to roll out later this year, will allow users to buy, sell, and custody Bitcoin (BTC) and Ethereum (ETH) directly within the app.

This marks Walmart’s most significant step yet into crypto, signaling that mainstream retail-linked fintech platforms are no longer avoiding digital assets but rather embracing them as a natural extension of their service ecosystem.

OnePay’s Crypto Integration: Powered by ZeroHash

OnePay’s entry into crypto is being facilitated through ZeroHash, a Chicago-based digital asset infrastructure provider. ZeroHash specializes in powering crypto trading and custody services for fintech firms, brokerages, and financial apps.

Earlier this year, ZeroHash raised $104 million from backers including Morgan Stanley and Interactive Brokers, further cementing its position as one of the leading behind-the-scenes enablers of crypto services. For Walmart, this partnership means OnePay can offer secure trading without building the infrastructure from scratch, accelerating its time-to-market.

Initially, OnePay users will be able to purchase and store Bitcoin and Ethereum, with additional features expected to roll out later. Customers will also be able to convert their crypto into cash balances within the app, which can then be used for everyday spending at Walmart stores or applied toward card repayments.

From Retail Giant to Fintech Challenger

Walmart co-founded OnePay in 2021 alongside venture capital firm Ribbit Capital, with the ambition of building an “everything app” for financial services. Over the past four years, the app has rolled out:

• High-yield savings accounts

• Debit and credit cards

• Buy Now, Pay Later (BNPL) loans

• Mobile wireless plans

Now, with crypto joining the lineup, OnePay is establishing itself as a direct competitor to PayPal, Venmo, and Cash App — all of which already offer crypto features.

The timing is strategic. Nearly all of the top finance apps now integrate digital assets, suggesting that crypto access is no longer a niche feature but rather a baseline expectation in mobile finance.

Distribution Power: Walmart’s Built-In Audience

OnePay has a unique advantage over its fintech rivals: its deep integration with Walmart’s massive retail ecosystem. Walmart serves 150 million U.S. customers every week, both online and in-store.

While OnePay was designed as a standalone fintech platform to appeal beyond Walmart’s customer base, its direct tie to the world’s largest retailer creates a built-in distribution channel for crypto services.

Currently ranked No. 5 on Apple’s app store for free finance apps, ahead of JPMorgan Chase, Robinhood, and Chime, OnePay has already established significant traction. By adding crypto, it can further differentiate itself and capture the growing demand for digital asset services.

Regulatory Winds Have Shifted

The move comes against a backdrop of a changing U.S. regulatory environment for crypto. The Trump administration’s introduction of the GENIUS Act, a federal stablecoin framework, and its executive order permitting crypto in retirement accounts, has softened barriers that previously discouraged mainstream firms from entering the sector.

This shift has emboldened traditional financial institutions and fintech platforms alike. Morgan Stanley, for instance, recently announced crypto trading options through its E-Trade subsidiary. For Walmart’s OnePay, the timing is ideal: regulatory clarity combined with growing institutional adoption creates a supportive environment for consumer-facing crypto products.

Why Bitcoin and Ethereum First?

The decision to start with Bitcoin and Ethereum is unsurprising. These two digital assets dominate market share, liquidity, and institutional adoption:

• Bitcoin (BTC) is seen as a store of value and hedge against inflation.

• Ethereum (ETH) underpins the largest smart contract ecosystem, powering DeFi, NFTs, and tokenized assets.

Offering these as a starting point balances user demand with regulatory comfort, since BTC and ETH are widely regarded as commodities rather than securities.

Future expansions could include stablecoins — particularly relevant since Walmart previously explored launching its own USD-backed stablecoin.

Impact on Walmart and the Crypto Market

The integration of Bitcoin and Ether into OnePay could reshape both the fintech and retail landscapes:

1. Retail Crypto Payments at Scale – With the ability to convert crypto into cash for Walmart purchases, OnePay brings crypto payments closer to everyday retail usage.

2. Mainstream Adoption Boost – Walmart’s massive customer base exposes millions of households to crypto services, expanding adoption beyond typical crypto-native audiences.

3. Competitive Pressure – Apps like Cash App and PayPal will face stronger competition, particularly among budget-conscious consumers who already shop at Walmart.

4. Market Confidence – Institutional and consumer-facing integrations often reinforce bullish sentiment. With Bitcoin trading above $121,000 and Ethereum climbing steadily, Walmart’s move could further strengthen the narrative of crypto as mainstream finance.

Risks and Challenges

While the announcement is promising, there are still challenges ahead:

• Volatility: Crypto’s sharp price swings could deter risk-averse users.

• Regulatory Uncertainty: While the environment is currently favorable, future political shifts could tighten restrictions.

• Adoption Curve: Users accustomed to traditional banking may need education before embracing crypto in everyday payments.

• Custody and Security: Despite ZeroHash’s infrastructure, consumer trust must be carefully managed to prevent fears over hacks or mismanagement.

What’s Next for OnePay and Walmart?

Looking ahead, OnePay’s crypto plans are likely just the beginning. Expansion into stablecoins, tokenized assets, or even Walmart-linked loyalty tokens could follow.

The combination of Walmart’s retail scale, OnePay’s fintech agility, and ZeroHash’s crypto infrastructure makes this partnership one of the most significant corporate crypto plays of 2025.

If successful, Walmart could emerge not just as a retail leader but also as a pivotal player in mainstream crypto adoption — bridging the gap between digital assets and real-world utility.

Conclusion

Walmart’s OnePay app entering the crypto space with Bitcoin and Ethereum represents a watershed moment for both retail finance and digital assets. With its enormous reach, strong fintech positioning, and supportive regulatory climate, Walmart is well-positioned to normalize crypto usage among millions of everyday consumers.

While risks remain, this move demonstrates that crypto is no longer confined to niche platforms or early adopters — it is now firmly embedded in the strategies of global corporate giants.