Summary
- Samsung said it plans to roll out a USDC transfer feature through Samsung Wallet in the final week of October for eligible Galaxy devices in the US.
- Users will be able to send USDC through the feature to compatible crypto wallets and bank accounts in more than 60 countries, with no fee for transfers to external wallets and a separate fee for overseas bank transfers.
- Samsung said the project will use Bastion's stablecoin account and payments infrastructure, Coinbase's Coinbase Prime Vault, and technology partners Solana (SOL) and Sui (SUI).
Forecast Trend Report by Period
Samsung Electronics will add USDC transfer capabilities to its Samsung Wallet payments app, with the service scheduled to launch later this month for Galaxy users in the US.
Cointelegraph reported on October 8 that Samsung plans to offer the feature during the final week of October to users of eligible Galaxy devices in the US.
The feature will allow users to send USDC to compatible crypto wallets overseas or transfer funds to bank accounts in more than 60 countries. Recipients will be able to receive the money in local currency.
Samsung said the feature will be available on 82 million compatible Galaxy devices in the US. Users must complete identity verification to use the service. Transfers to external crypto wallets will be free, while transfers to overseas bank accounts will incur a separate fee.
On the infrastructure side, Bastion will provide stablecoin account and payments infrastructure, while Coinbase will participate as a sub-custodian through Coinbase Prime Vault. Solana and Sui were named as technology partners.
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