This is going to get very interesting.
So far, the debate within crypto centered around centralized versus decentralized exchanges. This is something that raged on for years, with DEX starting to gain some traction.
We could see, however, this shift stopped in its tracks.
Development is expanding rapidly. The question is what will the crypto future look like? Will it be one of a few major exchanges dominating the swapping? Or will that be taking place on many different applications?
It is something I thought about with regards to a Coinbase. What is their moat exactly? That is something they will have to figure out.
Now we see Walmart, one of the largest retail chains in the world starting to delve deeper into crypto.
Walmart's OnePay To Add Crypto Trading
This could be what we are looking at.
There might be a time when crypto swaps are abundant. By this I mean that we have hundreds of applications which to conduct them. No longer will we be obligated to head to an exchange such as Coinbase. Applications that deal in payments will simply have them built in.
Walmart is seeking to do this with its OnePay platform.
Walmart-backed fintech OnePay, a mobile app currently serving around 1.5 million users, is reportedly preparing to launch cryptocurrency trading and custody features later this year.
The planned integration would allow users to buy, hold, and convert Bitcoin and Ether directly in-app, positioning OnePay alongside major US fintech peers such as PayPal, Venmo, and Cash App. As part of Walmart, the world’s largest retailer, OnePay aims to expand its reach and solidify its role as a comprehensive digital finance platform for retail consumers.
From this list, the number is already reaching four. It will only go up over time.
Cash applications will likely become larger in the future. While crypto wallets can do the same thing, the seamless integration to fiat currencies make them appealing.
They are also being backed by some rather large entities.
Abundance of Swapping
Within the digital realm, we are seeing a shift towards abundance. This is the nature of information technology. The expansion rate is so rapid that it dwarfs the world of atoms.
My guess is that something which was once the realm of Conbase and Binance will be everywhere. The swapping of coins such as Bitcoin and Ethereum will accelerate.
Walmart seeks to be one involved by the end of 2025:
According to reports citing people familiar with the matter, OnePay plans to enable users to buy, hold, and convert Bitcoin (BTC) and Ether (ETH) directly within the app by the end of 2025. Zerohash, a Chicago-based blockchain infrastructure provider, will reportedly power these crypto capabilities.
That does not mean, of course, that Coinbase has a dark future. With the likely introduction of tokenized stocks and other assets, the exchange is positioned to leverage it existing userbase.
At the same time, features such as collateralized lending could enhance the DeFi world. This is still lagging in TVL as compared to 2022 when it peaked. Like most new technologies, there is a burst up, a pullback (bubble popping?), and then a revival as the technology improves.
DeFi is missing some key components, especially with infrastructure. That is being addressed and could close the gap with its centralized counterparts soon.
According to Grok, the global payment system generated $2.4 trillion in fees. It processed 3.4 trillion transactions, totaling $1.8 quadrillion.
Many entities, including Walmart, are looking to tap into this market. Crypto will only enhance the appeal.