Walmart And PAG Seizes Opportunities in Crytpo Sector, Ozon Holding to Grow GMV Tenfold

Walmart Inc. (NYSE: WMT) is hiring a crypto expert to push its blockchain strategy. The company joins the rising number of corporations considering the viability of cryptocurrencies such as BTC. 

Walmart venturing into crypto 

According to the job listing, the retail giant is looking to hire someone to oversee the development of a cryptocurrency strategy and roadmap and identify crypto-related partnerships and investments. The position will be based at the company’s Bentonville, Arkansas offices. Although the company’s specifications were not clear, the posting refers to payment alternatives for customers. 

The move comes at the back of a similar announcement by Inc. (NASDAQ: AMZN), implying that the e-commerce giant could soon allow customers to make purchases using crypto. Already PayPal Holdings Inc. (NASDAQ: PYPL) allows select customers on the Venmo app to use digital currencies to make payments. 

Ozon expects GMV to grow tenfold by 2026

Russian online retailer Ozon Holding Plc is projecting that merchandise offered in its platform will increase tenfold in the next five years as the company aims to control around 33% of the e-commerce market in Russia. As a result, the eCommerce retailer raised its gross merchandise volume projections from 100% to 110%.  In an interview, CEO Alexander Shulgin stated that they target an annual GMV of $34 billion by 2026. 

In Q2, the company saw its GMV grow 94% YoY to 89 billion rubles. It reported an adjusted EBITDA loss of 9.1 billion rubles compared to a loss of 1.8 billion rubles a year ago. The company changed to the marketplace model in 2017, and its 50,000 sellers accounted for around 62% of gross merchandise volume in Q2.

PAG establishing digital infrastructure firm in Asia 

Private equity company PAG plans to create a digital infrastructure firm following a $2 billion asset investment in the space.  The company is betting on growing data storage demand in Asia’s fast-growing tech sector. The business PAG is establishing will emphasize fiber networks and data centers acquisition in Australia and Japan. The Hong Kong-based firm targets a $10 billion enterprise value for the entity in 5-7 years. 

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