 |  | A recent job posting from Walmart reveals the company's interest in hiring an expert to advise on crypto-related investment and partnership opportunities. This decision comes after a spike in crypto investments among other Fortune 500 companies and demonstrates Walmart's motivation to grow its own fintech ambitions.
The choice to hire a cryptocurrency expert would benefit Walmart's ecommerce sales, which have seen a major decline in year-over-year growth from 97% in July 2020 to 6% in July 2021. This dropoff can be attributed to consumers gradually returning to in-store shopping post-vaccine.
Enabling additional payment methods could help Walmart attract more customers from the pool of 46 million US adults who plan to make a purchase using cryptocurrency this year. But consumers will be most interested in a company's capacity to accept crypto payments through a secure hardware wallet, as 68% of crypto owners and nearly 50% of non-owners are concerned with making online crypto payments more private.
As a larger, more established company, Walmart developing in-house crypto solutions will help enforce the validity and longevity of the cryptocurrency market. But the retail giant would be wise to enable the secure acceptance of crypto payments in its ecommerce store if it hopes to capitalize on growing consumer interest in crypto.
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