OnePay is rolling out crypto to mobile banking app

OnePay, a fintech company backed by retail giant Walmart, is set to introduce cryptocurrency trading and custody services on its mobile app later this year. This move comes as OnePay continues to expand its offerings to become an all-encompassing digital finance platform.

Founded in 2021 by Walmart and venture firm Ribbit Capital, OnePay has been steadily adding new products to its platform, including credit and debit cards, high-yield savings accounts, buy now, pay later loans, and a digital wallet with peer-to-peer payments. By incorporating cryptocurrency trading, OnePay aims to cater to the growing demand for digital assets among its user base.

The addition of bitcoin and ether trading will be facilitated by Zerohash, a startup that specializes in cryptocurrency services. This strategic partnership will allow OnePay users to buy, sell, and hold crypto directly within the app, providing them with more flexibility in managing their finances.

With the increasing mainstream adoption of cryptocurrency, OnePay’s decision to include crypto services underscores its commitment to staying ahead of the curve in the rapidly evolving fintech industry. By offering customers the ability to convert their crypto holdings into cash for everyday transactions, OnePay aims to provide a seamless and integrated financial experience for its users.

The integration of cryptocurrency trading is part of OnePay’s larger strategy to position itself as a leading “super app” for digital finance in the United States. As the company continues to innovate and expand its product offerings, it has already gained significant traction, ranking as the fifth most popular finance app on Apple’s app store.

OnePay’s partnership with Walmart gives it a unique advantage in reaching a wide audience of potential users, leveraging the retailer’s extensive network of customers. Despite its close ties with Walmart, OnePay was designed as a separate entity to appeal to a broader segment of the population that may be underserved by traditional banking institutions.

Overall, the addition of cryptocurrency trading and custody services on OnePay’s platform represents a significant milestone in the company’s growth trajectory. By embracing emerging technologies and expanding its product range, OnePay is well-positioned to meet the evolving needs of the digital finance landscape.