TheBlock
Samsung's Stablecoin Account is live in Samsung Wallet, allowing eligible US Galaxy users to buy, hold and transfer USDC on Solana. Around 82 million Galaxy devices in the US are compatible, Samsung said. Users must be at least 18, have a Samsung Account and run Android 13 or later on a compatible device; New York residents are excluded.
Why it matters
The feature gives eligible users access to USDC without installing a separate crypto app or managing their own private keys. Bastion handles the stablecoin accounts and transfer infrastructure, while Coinbase holds the USDC as sub-custodian through Coinbase Prime Vault.
Users can send USDC to another Samsung Wallet user or a compatible external crypto wallet without a Samsung transfer fee. They can also send money to qualifying bank accounts in more than 60 countries, where recipients may receive local currency. Fees for those transfers vary by destination.
Market impact
The launch brings Solana-based USDC transfers into a widely used mobile wallet, expanding the potential reach of stablecoins for cross-border payments. The compatible-device figure is not a count of users or active accounts.
Samsung said it expects to explore online and in-store stablecoin payments and expansion to additional markets, subject to local regulation.
Frequently asked questions
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Who can use Samsung's Stablecoin Account?
Eligible users must be at least 18, have a Samsung Account and own a compatible Galaxy device running Android 13 or later. New York residents are excluded.
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How much does Samsung charge for USDC wallet transfers?
Samsung charges no transfer fee for sending USDC to another Samsung Wallet user or a compatible external crypto wallet.
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Can users send money to bank accounts outside the US?
Eligible users can send money to qualifying bank accounts in more than 60 countries. Recipients may receive local currency, and fees vary by destination.
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Who provides custody for the USDC accounts?
Bastion handles the stablecoin accounts and transfer infrastructure. Coinbase holds the USDC as sub-custodian through Coinbase Prime Vault.
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Do Samsung Wallet users need to manage private keys?
No. The feature gives users access to USDC without managing private keys themselves or installing a separate crypto app.
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