Samsung Wallet Adds Solana-Based USDC Support in US

Samsung Electronics has launched stablecoin transaction features through Samsung Wallet for Galaxy users in the U.S.

The Block reported on November 5 that Samsung had activated stablecoin accounts in Samsung Wallet, allowing Galaxy users in the U.S. to buy, hold and send Circle's USDC on the Solana blockchain.

The service is available to U.S. residents age 18 or older with Galaxy devices running Android 13 or later. New York state residents are excluded. Samsung says about 82 million Galaxy devices in the U.S. are compatible with Samsung Wallet.

Users can send USDC to other Samsung Wallet users or to compatible external cryptocurrency wallets. Samsung does not charge a separate fee for those transfers, though receiving wallets or exchanges may impose their own fees.

Samsung Wallet also supports sending USDC to eligible bank accounts in more than 60 countries. Recipients can receive the funds in local fiat currency.

Bastion, a stablecoin custody and infrastructure provider, will handle stablecoin account operations and transfer infrastructure. Coinbase, the U.S. cryptocurrency exchange, will act as Bastion's sub-custodian and store USDC through Coinbase Prime Vault. Users therefore do not need to manage private keys themselves.

Samsung also plans to consider introducing stablecoin payments for online and offline stores. It intends to pursue expansion to other countries in line with local regulations.