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Walmart CTO believes crypto will be a ‘major’ payments disruptor

Walmart CTO Suresh Kumar suggested that crypto will become an important payment means as Metaverse and social media are becoming a major marketing option

Walmart crypto Metaverse

Source: corporate.walmart.com

Speaking at the Yahoo Finance All Markets Summit on Oct. 17, Walmart’s global chief technology officer Suresh Kumar confirmed Walmart’s positive stance on digital assets. in addition, he noted that “crypto will become an important part of how customers transact” for both physical and virtual goods, disrupting global payments.

Kumar explained crypto plays a major role in the changing landscape of how customers are getting inspired and discovering products. In his opinion, a significant amount of customers will be soon marketed via the Metaverse and live streams on social media apps. Therefore, crypto would become an important payment option in these areas. 

The stance explains Walmart’s recent foray into the Roblox Metaverse. There, the company is hosting a range of virtual experiences, including various games, a DJ booth and a Ferris wheel. Walmart land also offers virtual merchandise products called “verch” for users’ avatars. Moreover, Walmart is preparing for future with patent filings to create digital currencies, tokens and NFTs in the Metaverse space. 

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Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.