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Walmart-Backed OnePay Lets Customers Turn Stablecoins Into Checking Dollars

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Walmart-Backed OnePay Lets Customers Turn Stablecoins Into Checking Dollars

Walmart-backed OnePay is letting customers deposit stablecoins straight into their checking accounts, where the money arrives as U.S. dollars. The move puts a mainstream consumer FinTech app right where crypto earnings meet everyday spending.

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It also comes as stablecoin use grows fast. OnePay cited industry figures showing about $1.79 trillion in adjusted stablecoin transaction volume in June, up 125% from a year earlier.

Starting Oct. 30, select U.S. customers can send USDC from an outside wallet or exchange to a deposit address in the OnePay app, the company said in an announcement. The funds are converted to dollars and credited to OnePay Checking, usually within moments. There are no conversion fees at launch, though blockchain networks may charge their own fees. OnePay supports USDC on 12 blockchains, including Tempo, Base, Solana and Ethereum. It says it’ll consider adding other stablecoins over time.

Stripe powers the service. OnePay uses Bridge, Stripe’s stablecoin platform, to create deposit addresses. Bridge receives the coins, runs compliance checks and handles the conversion. OnePay then credits the account. Customers don’t need to keep a separate stablecoin balance.

OnePay said the product is aimed at gig workers, freelancers and others who are increasingly paid in stablecoins. “Until now, that value sat one step outside the banking system: fast to receive, slow to spend,” OnePay Head of Crypto Pierce Harger wrote in the announcement.



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