PLANO, Texas \u2014Oct. 7,\u00a02026 \u2013 Samsung Electronics America today announced that stablecoin wallet functionality will launch in Samsung Wallet starting in the last week of October for eligible Galaxy users in the United States, bringing eligible cross-border stablecoin transfers into the app they already use regularly.1\u00a0<\/p>\n
The feature will initially support USDC, a U.S. dollar-denominated stablecoin.<\/p>\n
\u201cSending money abroad should feel as convenient as using the wallet already on your phone,\u201d said Woncheol Chai, EVP and Head of the Digital Wallet Team at the Mobile eXperience (MX) Business at Samsung Electronics. \u201cWe\u2019re bringing USDC transfers into Samsung Wallet so eligible Galaxy users can get started without installing another app or managing private keys themselves.\u201d<\/p>\n
Integrating Stablecoin Access Into Samsung Wallet
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By integrating stablecoin functionality natively into Galaxy devices via Samsung Wallet, Samsung is removing some of the hassle typically associated with stablecoin use, such as installing separate crypto apps, creating wallets, and managing private keys. At launch, the feature will be available across 82 million U.S. Galaxy devices.2<\/p>\n
The launch marks the next chapter of Samsung and Coinbase\u2019s collaboration, following the addition of Samsung Pay as a payment option in the Coinbase app and access to Coinbase One benefits for eligible users through Samsung Wallet.<\/p>\n
Convenient Money Transfers Across Global Borders
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Eligible Galaxy users will be able to send USDC directly from Samsung Wallet to compatible crypto wallets internationally in seconds and with no transfer fees. \u00a0Whether splitting travel expenses or sending money to friends, eligible users can transfer USDC conveniently from their Galaxy devices.<\/p>\n
Samsung Wallet will also enable eligible users to send money to qualifying bank accounts in more than 60 countries, with funds delivered in the recipient\u2019s local currency.4 This offers a convenient way to send money from Samsung Wallet, with eligible recipients receiving funds directly in their bank accounts without needing a crypto wallet. By making international transfers more convenient,\u00a0Samsung is helping move stablecoins like USDC from a specialized crypto tool toward a more practical way for eligible Galaxy users to send money.<\/p>\n
Built-In Security and Compliance Powered by Bastion and Coinbase Prime
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Samsung is launching the feature following the establishment of a regulatory framework for stablecoins. Bastion, a licensed stablecoin custodian and infrastructure provider overseen by U.S. financial regulators, will power the cross-border payment framework for Samsung Wallet\u2019s new stablecoin capabilities.5 To secure these assets, Bastion has partnered with Coinbase as its official sub-custodian, safeguarding all USDC in Samsung Wallet via Coinbase Prime Vault. Samsung Galaxy devices compatible with the stablecoin functionality act as the secure gateway, requiring biometric authentication on registered devices to initiate transfers.<\/p>\n
USDC will be the first supported stablecoin by Samsung Wallet, with USDC functionality operated together with Bastion and Coinbase. When users select \u201cBuy Stablecoin,\u201d USDC will appear as the default dollar stablecoin. Additional aspects of the service \u2014 including infrastructure and blockchain network support \u2014 will be provided by separate partners with the required technical capabilities, including Solana and Sui.<\/p>\n
Future capabilities may include the ability for eligible users to pay with stablecoins online or by tapping an eligible Galaxy device in store, followed by potential expansion into additional markets in line with regulatory developments in each country.<\/p>\n
Availability<\/p>\n
Stablecoin wallet functionality in Samsung Wallet will be available in the last week of October across eligible Galaxy devices.
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About Samsung Electronics America, Inc
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Headquartered in Plano, TX, Samsung Electronics America, Inc. (SEA), the U.S. Sales and Marketing subsidiary, is a leader in mobile technologies, consumer electronics, home appliances, enterprise solutions and networks systems. For more than four decades, Samsung has driven innovation, economic growth and workforce opportunity across the United States\u2014investing over $100 billion and employing more than 20,000 people nationwide. By integrating our large portfolio of products, services and AI technology, we\u2019re creating smarter, sustainable and more connected experiences that empower people to live better. SEA is a wholly owned subsidiary of Samsung Electronics Co., Ltd. To learn more, visit Samsung.com. For the latest news, visit news.samsung.com\/us<\/a>.\u00a0 About Coinbase Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom in the world. The most trusted crypto platform, Coinbase stores more digital assets than any other company and is building the everything exchange \u2014 one place to access crypto, equities, derivatives, prediction markets, and more. Coinbase serves consumers through its suite of financial apps, institutions through Coinbase Prime, and developers through the Coinbase Developer Platform. Every experience runs on Coinbase’s full-stack platform powering the future of finance: secure\u00a0custody, deep exchange liquidity, stablecoin infrastructure, and global settlement rails \u2014 all built on a decade-plus foundation of security and compliance. About Bastion Bastion builds the full technology, operations and compliance stack behind enterprise stablecoin programs. Global companies and financial institutions use Bastion to run their own stablecoin networks: custody, movement, on\/off-ramps and issuance, secured at scale. Stablecoin accounts in Samsung Wallet\u2019s stablecoin initiative run on Bastion. Bastion operates under its own licenses or as a technology provider under its clients’, and issues no stablecoin of its own, so clients keep control of their brand, their users and their economics. Bastion holds a New York trust charter, Bastion Platforms Trust Company, LLC, for stablecoin issuance and has preliminary conditional approval from the OCC for a national trust bank charter. It is backed by Andreessen Horowitz and Coinbase Ventures, among others. Visit bastion.com<\/a> to learn more.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n 1\u00a0Available only to eligible U.S. residents 18 years or older with a Samsung Account, on Galaxy devices compatible with Samsung Wallet running Android 13 or higher. Account registration, identity verification, and biometric authentication setup are required.\u00a0
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2\u00a0Reflects the number of Galaxy devices in the United States that are compatible with Samsung Wallet.\u00a0
3\u00a0Compatible wallets are third-party crypto wallets or exchange accounts that support USDC on a blockchain network supported by Samsung Wallet. Samsung does not charge a fee for USDC transfers to external wallets; recipient wallet providers or exchanges may impose their own fees. Transfer speed depends on blockchain network conditions. Transfers to sanctioned jurisdictions are prohibited.\u00a0
4\u00a0International money transfers are supported to eligible bank accounts in more than 60 countries; the list of supported countries will be displayed in the Samsung Wallet app. Fees apply, vary by destination country and amount, and are shown in the app with an estimated delivery time before the sender confirms the transfer. Recipient bank eligibility varies, and some banks or account types may not be supported. Delivery times may vary.\u00a0
5\u00a0Stablecoin accounts, custody, and money movement services are provided by regulated partners, not Samsung. Samsung is not a bank, money transmitter, or digital asset custodian and does not hold customer funds. Use of the service is subject to partner terms.<\/p>\n","protected":false},"excerpt":{"rendered":"PLANO, Texas \u2014Oct. 7,\u00a02026 \u2013 Samsung Electronics America today announced that stablecoin wallet functionality will launch in Samsung…\n","protected":false},"author":2,"featured_media":925284,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[318133,49,48,7343,48619,190,154016,22117,55043,61,193346],"class_list":["post-925283","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-bastion","tag-ca","tag-canada","tag-coinbase","tag-digital-payment","tag-mobile","tag-mobile-wallet","tag-samsung-wallet","tag-stablecoin","tag-technology","tag-usdc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/925283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=925283"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/925283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/925284"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=925283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=925283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=925283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}