While Walmart has definitely explored the idea of its own cryptocurrency and made moves in the crypto space, it has not launched its own proprietary cryptocurrency for general use by customers.
Here's what we know:
- Trademark Filings: In late 2021/early 2022, Walmart filed several trademarks indicating an intent to create its own cryptocurrency and NFTs (non-fungible tokens), as well as plans related to the metaverse.
These filings show they were actively exploring the potential of these technologies. - Job Postings: Walmart has previously posted job openings for roles focused on digital currency strategy, suggesting a serious interest in the area.
- Bitcoin ATMs: Walmart partnered with Coinstar and Coinme to allow customers to buy Bitcoin at Coinstar kiosks in some of its U.S. stores.
This is about facilitating access to existing cryptocurrencies, not creating their own. - Stablecoin Patent: In 2019, Walmart filed a patent for a "digital currency unit" that would be pegged to the US dollar, essentially a stablecoin.
However, a patent doesn't mean a product will be launched, and there haven't been updates on this specific stablecoin's development. - Exploration, Not Launch: Walmart has consistently stated that they are "continuously exploring how emerging technologies may shape future shopping experiences" and that they "test new ideas all the time."
This indicates an experimental approach rather than an immediate launch. - Past Hoax: In September 2021, a fake press release falsely claimed Walmart would accept Litecoin, causing a brief surge in the cryptocurrency's price.
This highlights the speculation surrounding Walmart's involvement in crypto.
In essence, Walmart is interested in the potential of cryptocurrency and blockchain technology, particularly for future shopping experiences and potentially to reduce transaction fees.
