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OnePay to Roll Out Crypto Services
OnePay, the banking app majority-owned by Walmart, is preparing to launch cryptocurrency trading and custody for its users later this year, according to a CNBC report citing unnamed sources. The app will initially support Bitcoin and Ether, the two largest digital assets by market value.
OnePay, pitched as a U.S. version of China’s WeChat, already offers high-yield savings accounts, debit and credit cards, loans and wireless plans. Adding digital assets would expand its suite of financial products and bring it closer to the “superapp” model that combines payments, banking and digital services in a single platform.
The company has not publicly commented on the report. Cointelegraph said its request for confirmation went unanswered at the time of publication.
Investor Takeaway
OnePay’s crypto rollout would give Walmart direct exposure to digital asset trading and custody, potentially accelerating mainstream adoption in the U.S. market.
Race to Build a U.S. Superapp
The concept of a financial superapp has long been associated with WeChat in China, which integrates messaging, shopping, payments and financial services. Western firms have repeatedly tried to replicate the model, but no one has yet succeeded at scale.
Regulatory attitudes may now make the timing more favorable. Earlier this month, SEC Chairman Paul Atkins voiced support for platforms offering multiple services under one umbrella. “I believe regulators should provide the minimum effective dose of regulation needed to protect investors, and no more,” he said, signaling openness to frameworks that could accommodate trading, lending and staking inside a single platform.
The shift could create an opening for companies like OnePay that already combine banking and consumer services. With Walmart’s backing, the app could reach millions of customers already integrated into its retail ecosystem.
Competition From Coinbase, Toss and X
Other companies are also pushing to capture the superapp market. In September, Coinbase CEO Brian Armstrong unveiled plans for a crypto-centric superapp that would include credit cards, payments and Bitcoin rewards. In South Korea, fintech unicorn Toss announced it will launch a finance superapp in Australia later this year and issue a stablecoin tied to the Korean won once approved by regulators.
Meanwhile, Elon Musk’s X has been building out payments and banking features with the long-term goal of creating a Western equivalent to WeChat, enhanced by artificial intelligence tools. If OnePay does launch crypto services in the coming months, it would place Walmart squarely in this competitive field.
Investor Takeaway
The entry of Walmart-backed OnePay into crypto coincides with moves by Coinbase and X, showing how the race to build a Western superapp is converging around digital assets.
What’s Next
The launch timeline has not been confirmed, but CNBC’s sources expect Bitcoin and Ether support before the end of the year. Analysts say the rollout would bring a new layer of credibility to the U.S. crypto sector, given Walmart’s brand and OnePay’s existing footprint in banking services. For regulators, the development will test how far “superapp” models can expand without creating systemic risks in consumer finance.
If successful, OnePay could become one of the first mainstream U.S. superapps to integrate digital assets alongside traditional banking. For competitors, the announcement raises the stakes in a market that has so far been dominated by fragmented players rather than a single platform.
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