Walmart's OnePay Reportedly Plans Bitcoin and Ethereum Trading Services via Zerohash Partnership

Executive Summary

OnePay, the fintech entity associated with Walmart, is reportedly preparing to launch services for trading and custody of Bitcoin (BTC) and Ethereum (ETH) within its mobile application. This initiative, if confirmed, would involve a collaboration with Zerohash, a regulated financial technology firm. The potential integration aims to provide digital asset accessibility to OnePay’s estimated 150 million weekly U.S. consumers, marking a significant potential step toward mainstream cryptocurrency adoption. However, these reports remain unconfirmed by official company statements, leading to a subdued market reaction and scrutiny regarding regulatory implications.

The Event in Detail

Reports indicate that OnePay, a fintech company within Walmart's ecosystem, intends to introduce cryptocurrency trading and custody services for Bitcoin and Ethereum. The proposed integration would leverage Zerohash's technological infrastructure, allowing consumers to trade and hold BTC and ETH directly through the OnePay mobile application. Zerohash LLC is registered with FinCEN as a Money Services Business (MSB) and holds money transmission licenses in numerous U.S. jurisdictions. This regulatory standing requires compliance with financial statutes such as the Bank Secrecy Act and the USA Patriot Act, ensuring a framework for verifying customer identities and reporting transactions. While these plans are widely reported, neither Walmart nor OnePay have issued official confirmations, resulting in market stakeholders approaching the development with caution due to the lack of formal announcements and potential regulatory complexities.

Market Implications

The potential entry of a large retail-affiliated fintech platform like OnePay into the cryptocurrency space carries substantial market implications. If realized, the integration could significantly broaden the accessibility of Bitcoin and Ethereum for a vast retail audience, potentially stimulating increased demand and transaction volumes. This move would also intensify competition for existing retail-focused cryptocurrency platforms. For context, Bitcoin was trading at $120,406.11 with a market capitalization of $2.40 trillion and a 58.07% market dominance as of October 3, 2025, reflecting a 1.40% daily increase and $73.98 billion in 24-hour trading volume. The involvement of Zerohash, a regulated entity with robust compliance frameworks including AES-256 encryption, multi-signature wallets, and cold storage for funds, underscores an emphasis on security and regulatory adherence that could foster greater institutional and public trust in crypto services offered by mainstream entities.

Expert Commentary

Industry analysts emphasize the unverified nature of the reports, citing the absence of official confirmations from Walmart or OnePay. This lack of formal declaration contributes to skepticism among industry stakeholders and regulatory observers. Experts highlight that regulatory complexities represent a significant barrier to entry for large corporations venturing into cryptocurrency markets. While the retail sector has previously explored internal blockchain applications, direct consumer offerings of cryptocurrencies, particularly by a company with Walmart's scale, represent a more complex regulatory landscape. The push for mainstream adoption is also reflected in broader market developments, such as the CME Group's announcement to offer 24/7 trading for cryptocurrency futures and options starting in early 2026, indicating a growing institutional appetite for digital asset derivatives.

Broader Context

The reported plans align with OnePay's broader "super app" strategy, aiming to consolidate various financial services within a single mobile platform. This strategic move could allow Walmart to leverage its extensive customer base and infrastructure to penetrate the burgeoning digital payments and asset sector. Some market observers suggest that such an integration could potentially disrupt traditional financial payment systems by offering an alternative to credit card networks, which often entail significant fees for merchants. While the current reports focus on Bitcoin and Ethereum, the broader strategic interest from large retailers like Walmart and Amazon in creating their own payment ecosystems, potentially including stablecoins, has been a topic of discussion among financial strategists seeking to bypass traditional payment rails. However, the regulatory environment for digital assets remains dynamic, with entities like Zerohash needing to maintain extensive compliance, including registrations with FinCEN and adherence to acts like the Bank Secrecy Act, to operate within the United States and other jurisdictions.