Walmart Cryptocurrency Patent Just The Latest Of A String Of False Starts

The past few weeks have yielded numerous stories about a crypto asset that Walmart reportedly submitted a patent for. This endeavor could be another attempt by the retail giant to gain entry into the financial sector, according to one expert.

“Walmart has been trying for the better part of the past two decades to obtain a bank charter or license, applying on numerous occasions only to later abandon its application each time,” Joe Ciccolo, president of bitcoin compliance company BitAML, said to me via email correspondence. Ciccolo knows the banking industry well as he worked for several years as a bank compliance analyst at State Farm.

Ciccolo added,

“In this pursuit over the years, state and federal lawmakers have raised concerns and…