OnePay Launches Crypto Trading, Boosting App's Finance Ranking
OnePay, the digital financial services platform backed by Walmart and Ribbit Capital, has expanded its offerings with the addition of crypto trading. This move comes as the app continues to climb the ranks in Apple's finance category, currently sitting at No. 5.
OnePay's crypto services will initially support Bitcoin and Ethereum, powered by startup Zerohash. Users can expect trading and custody services for these cryptocurrencies later this year. This expansion could boost app adoption, benefiting from Walmart's extensive distribution network. Morgan Stanley's recent decision to allow retail clients access to crypto through its E-Trade subsidiary signals a growing trend in the industry.
OnePay aims to become an American super app for digital finance. Its crypto services will enable users to convert cryptocurrency into cash for in-store purchases or credit card payments. This functionality will be available through the OnePay app, which also offers banking, credit/debit cards, buy-now-pay-later loans, and wireless plans.
OnePay's crypto trading addition, powered by Zerohash, is set to launch later this year with support for Bitcoin and Ethereum. This move could attract more users to the app, leveraging Walmart's retail and online presence. As a separate entity from Walmart, OnePay serves a broader audience, positioning itself as a comprehensive digital financial services platform.
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