Walmart CTO forecasts growing role for cryptocurrencies in payments

Digital assets are set to play a growing role in customer payments in the future. This was stated by Walmart’s chief technology officer Suresh Kumar in an interview with Yahoo Finance.

The executive pointed to the retailer’s aim to meet rising demand for cryptocurrency-enabled transactions.

The expert suggested the changes would extend to metaverses — “in live streams, inside your social-media app”.

“Whether physical or virtual goods, [cryptocurrencies] play a certain role in terms of what the customer desires. … When you discuss digital assets, that also leads into conversations about metaverses, and then about how people conduct transactions,” Kumar said.

On September 26, the company announced the launch of Walmart Land and Walmart’s Universe of Play — two game worlds on the Roblox platform.

In January, ForkLog reported that the retailer was preparing to enter the realm of metaverses with plans to create its own cryptocurrency and NFT collections.

In August 2021 Walmart opened a vacancy for a head of product related to digital assets.

Earlier, the retailer made it onto a list of billion-dollar companies actively using blockchain.

In April 2022, Walmart’s Indian marketplace Flipkart created an innovative laboratory to study options for the commercial use of Web3 technologies.

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