Walmart director joins board for crypto wallet company Blockchain.com

Walmart’s Lead Independent Director

January 25, 2022

Reading Time: 2 minutes

Cryptocurrency service company Blockchain.com has announced that it will be adding Tom Horton, the lead independent director of retail giant Walmart, to its board.

Horton’s Addition to Blockchain.com is Ahead of Its Possible IPO

Blockchain.com is aiming for a public offering in the near to medium term. The company is popular for its blockchain wallet that helps users manage their digital coins.

Blockchain.com has been on the hunt for backers from blue-chip companies and other crypto enthusiasts, thus hiring a Walmart director. Before Tom Horton, Blockchain.com added Marcie Vu, who served as the head of consumer internet banking at Morgan Stanley.

Horton will be joining backers like Google Ventures, Lightspeed Ventures, and Sir Richard Branson, whom Blockchain.com secured ahead of their public offering. The cryptocurrency services firm has raised a total of $537 million, with its most recent valuation last March at $5.2 billion.

In a previous interview, Walmart’s lead independent director Tom Horton may have hinted at this appointment. The former Walmart director stated that he had observed a gigantic shift in financial services and currencies. Horton added that being part of this wave was exciting as it was relevant to other things he was involved. It is not farfetched to assume that the “other things” may have been Horton’s transition to Blockchain.com.

A shift to Crypto is Gaining Momentum

Recently, there has been a growing trend of big players in traditional finance shifting to cryptocurrency. Horton’s transition to Blockchain.com strengthens this curve. Even institutions are shifting. Visa recently launched a cryptocurrency advisory forum. MasterCard, PayPal, and MoneyGram have also all shown interest in cryptocurrency. Furthermore, Walmart is also preparing to enter into crypto and non-fungible tokens.

Horton’s addition to Blockchain.com is when the cryptocurrency market has suffered huge losses. The market is slowly recovering after a cold weekend where the total cryptocurrency market cap dropped towards $1.5 trillion.

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