Walmart owned by Bank App OnePay to add crypto support: Report

OnePay, a majority of Walmart’s banking app, is about to launch crypto support, according to CNBC.
According to a Friday CNBC Report UNDERSTANDING RESOURCES, ONEPAY is about to offer trading and care for its users. The app is expected to support Bitcoin (Btc) and ether (Eth) later this year.
OnePay is positioned itself as a US version of a “superapp,” model after China’s Wechat. The platform offers banking services including high-harvest saving accounts, credit and debit cards, loans and wireless plans.
WeChat is all “superapp,” which combines messaging, social media, payment, shopping, and countless mini apps on a single platform. This app, which many western companies try to emulate, gives users to chat, pay fees, order food, book travel and more.
OnePay did not answer Cointelegraph’s request for comment by publishing.
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The search for a western superapp
While many companies have expressed interest in developing a Superapp like WeChat, to this day, no one has successfully created one. The timing can be in favor of Onepay.
Earlier this month, Chairman of the US Securities and Exchange Commission Paul Atkins expressed support for platforms offers many financial services under a regulation framework.
The regulator’s updated approach includes allowing platforms to operate as “super-apps” that can facilitate trading, lending and staking digital properties under a regulatory umbrella.
“I believe that regulators should provide the minimum effective dose of regulation required to protect investors, and gone,” Atkins said at that time.
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The race for superapp is eating
Atkins’ comments did not fall to deaf people. In late September, Coinbase CEO Brian Armstrong described plans to produce a Crypto Superappoffers credit cards, payments and rewards of bitcoin to compete with traditional banks.
Earlier in September, the South Korea Fintech Unicorn Toss Announced plans to launch a superapp financial in Australia This year and issuing a Korean Won Stablecoin once the regulation approved. Returning to the US, Elon Musk’s Social Media Behemoth has long been working on a artificial intelligence enhanced superapp.
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