Walmart’s top lead director Tom Horton is all set to take in a new role as a board member in the crypto wallet and exchange firm Blockchain.com amidst reports of the firm going public in the near future. Although the firm didn’t specify the details on the potential public offering, it remains to be seen how it will fare given the current market downtrend.
Having said that, Peter Smith, CEO of Blockchain.com revealed that the firm is set to roll out new services, such as its upcoming NFT marketplace, and expand its reach globally. In the last 12 months, Smith said it undertook five acquisitions, including one in Latin America.
Further, the exec stated that in 2021, revenue has increased nearly tenfold, with the institutional business growing at almost double that pace. Blockchain.com is “extremely profitable,” said Smith, but refuses to disclose exact revenue or profit. He then went on to say that the firm currently employs 550 people, a steady rise from about 200 a year ago.
Meanwhile, Tom Horton also spoke of his new role in an interview,
“There’s a gigantic shift underway in financial services and currencies, and being part of it is very exciting. What’s going on here is relevant to things I am involved with elsewhere other boards, other companies. This is a multinational company, it’s a growing company, it’s getting bigger all the time. Where I may be able to help is help mature the company even more.”
The move comes close on the heels of Walmart preparing to enter the field with its own cryptocurrency and a collection of non-fungible tokens.
Walmart ambitious plans for its crypto roadmap
Walmart has taken the lead among big-box retailers to join the crypto craze. In fact, a week ago TronWeekly had reported on the US-based retail giant that is planning to venture onto the metaverse realm intending to create its own cryptocurrency and collection of non-fungible tokens or NFTs.
However, its plans on taking the crypto world date back to late 2021 when it filed several new trademarks back that showed its interest to create and sell digital goods, including a host of products ranging from electronics, home decorations, toys, sporting goods, and personal care products.
