Samsung Wallet to Support USDC Transfers on Solana for 82 Million US Galaxy Users

TLDR

• Samsung Wallet and Samsung Pay will support USDC transfers on Solana starting in the last week of October.
• The feature covers about 82 million Galaxy devices in the US and does not require a separate crypto app.
• Samsung will not charge a fee on transfers, though recipient wallets or exchanges may.
• Users can also send funds to bank accounts in more than 60 countries in local currency.
• Coinbase will custody the USDC through Coinbase Prime, with Bastion also part of the setup.

Samsung will soon let eligible Galaxy users in the U.S. send USDC stablecoins across borders. The feature will be part of Samsung Wallet and Samsung Pay.

The South Korean tech company announced the plan in a statement on Thursday. The service is set to launch in the last week of October.

It will be available across 82 million Galaxy devices in the U.S. The transfers will run on the Solana blockchain.

How the USDC Feature Works

Samsung said the feature is built directly into Samsung Wallet. Users will not need to download a separate crypto app.

The wallet will include fiat on-ramps and off-ramps. This lets users move between regular dollars and USDC inside the app.

Users will be able to send USDC to compatible external wallets. Solana and Sui infrastructure will run behind the scenes.

The system also works with Bastion, a licensed stablecoin custodian in the U.S.

“Sending money abroad should feel as convenient as using the wallet already on your phone,” said Woncheol Chai, executive vice president and head of the digital wallet team at Samsung Electronics.

Chai added that eligible users can get started “without installing another app or managing private keys themselves.”

Samsung said it will not charge a fee for the transfers. Recipient wallets or exchanges may still charge fees, and transfer speed will depend on network conditions.

The wallet will also support transfers to eligible bank accounts in more than 60 countries. Funds will arrive in the recipient’s local currency, though fees may vary by destination.

Samsung and Coinbase Expand Partnership

Samsung called the new feature the “next chapter” of its work with Coinbase. Last year, the two companies expanded their partnership so U.S. Galaxy users could fund Coinbase accounts with Samsung Pay.

Alec Lovett, Coinbase’s head of infrastructure products, said in a blog post on Wednesday that Coinbase will custody the USDC held in Samsung Wallet. This will be handled through Coinbase Prime.

Lovett described the launch as a “distribution milestone for USDC,” pointing to Samsung’s global reach.

Lily Liu, president of the Solana Foundation, said the feature “puts digital dollars into everyday life.”

“This level of adoption is what we built Solana for, and we’re seeing the moment when stablecoins stop being a crypto product and start being how people move money,” Liu said.

Samsung said it plans to bring the service to more markets in the future. Any expansion will depend on local regulatory requirements.

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