Summary
- OnePay said it plans to offer Bitcoin (BTC) and Ethereum (ETH) trading and custody services by year-end.
- It said users will be able to convert their crypto assets to cash and use them to pay at Walmart stores or to repay card balances.
- It noted that large banks are also preparing related services following the U.S. government's shift to crypto-friendly policies.
Walmart-backed fintech company OnePay plans to offer trading and custody services for Bitcoin (BTC) and Ethereum (ETH) within the year.
On the 3rd (local time), CNBC, citing people familiar with the matter, reported, "OnePay plans to allow customers to directly hold and trade Bitcoin and Ethereum using its apps starting at the end of the year," adding, "This will enable users to convert their crypto assets to cash and use them to pay at Walmart stores or to repay card balances."
OnePay was founded in 2021 by Walmart and venture capital firm Ribbit Capital, and has been expanding its services with the goal of becoming a "super app that contains all financial services."
This expansion of cryptocurrency services comes amid a shift in the U.S. government's stance toward crypto-friendly policies following President Trump's election. As a result, large banks that previously found it difficult to offer cryptocurrency services are also preparing related products. Last month, Morgan Stanley announced plans to offer direct cryptocurrency trading services to retail investors through its subsidiary E-Trade.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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