CoinDesk
Starting in the last week of October, eligible U.S. Galaxy users will be able to send USDC through Samsung Wallet to compatible crypto wallets or eligible bank accounts in more than 60 countries. Samsung says the service will be available across 82 million Galaxy devices, with recipients able to receive local currency without setting up a crypto wallet.
Why it matters
The integration brings stablecoin transfers into an app already used for cards, IDs and boarding passes, reducing the setup normally required to send crypto. Users will fund transfers through integrated on- and off-ramps, and sending requires biometric authentication on a registered Galaxy device.
Coinbase will provide custody through Coinbase Prime Vault, Bastion will supply stablecoin infrastructure, and Solana and Sui will support the blockchain side. Samsung says it will charge no fee for transfers to compatible external wallets, though recipient wallets or exchanges may charge fees.
Market impact
The launch gives USDC a distribution channel inside a mainstream consumer wallet and puts stablecoin remittances in front of tens of millions of potential users. Its significance will depend on uptake and whether the service can make transfers straightforward for both senders and recipients.
The initial rollout is for eligible U.S. users. Samsung has not announced expansion beyond the United States, saying future availability will depend on local regulation. The company has also said it may later add stablecoin payments online and through tap-to-pay on eligible Galaxy phones.
Frequently asked questions
-
When will eligible Galaxy users be able to send USDC?
Samsung says the service is scheduled to start in the last week of October for eligible users in the United States.
-
Where can Samsung Wallet users send USDC?
Users can send USDC to compatible crypto wallets or eligible bank accounts in more than 60 countries.
-
Do recipients need a crypto wallet to receive a bank payout?
No. Eligible bank-account recipients can receive the funds in local currency without opening a crypto wallet.
-
Which companies and blockchains support the service?
Coinbase will provide custody, Bastion will supply stablecoin infrastructure, and Solana and Sui will support the blockchain services.
-
Will Samsung charge a fee for USDC transfers?
Samsung says it will not charge for transfers to compatible external wallets. Recipient wallets or exchanges may charge their own fees.
Crypto News
TheBlock
Crypto Rank News
CoinTelegraph