Samsung adds USDC transfers to Samsung Wallet on 82 million U.S. Galaxy devices
In brief
- Samsung Wallet gets USDC transfers in the last week of October, Samsung said.
- 82 million U.S. Galaxy devices will get the feature, according to Solana's statement.
- Bank recipients in more than 60 countries can receive USDC or local currency.
- Samsung charges no fees for transfers to compatible external wallets.
- U.S.-only launch for now, with no date set for expansion.
How the transfers work
Solana and Sui will provide the underlying blockchain network support, according to the announcement as reported by CoinDesk. Coinbase will custody the stablecoin through Coinbase Prime Vault, and Bastion will provide the regulated stablecoin infrastructure.
Users can send USDC to compatible crypto wallets abroad or directly to eligible bank accounts in more than 60 countries (bank recipients get local currency). Customers fund transfers through integrated on- and off-ramps, Samsung said. Sending requires biometric authentication on a registered Galaxy device.
Samsung won't charge fees for USDC transfers to compatible external wallets. Recipient wallets or exchanges may still charge their own.
The feature lives inside Samsung Wallet, which people already use for cards, IDs and boarding passes. Woncheol Chai, head of Samsung Electronics' digital-wallet team, said eligible Galaxy users can get started without installing another app or managing private keys themselves.
A U.S.-only start
Samsung said in August it planned to add stablecoin savings and payment features to hundreds of millions of Galaxy phones. This U.S. launch is its first large-scale deployment.
It's U.S.-only for now.
Samsung hasn't said when the feature will expand beyond the U.S., and future availability will depend on local regulation. The company also said it may later enable stablecoin payments online and through tap-to-pay transactions.
CoinDesk described USDC, issued by Circle, as the world's second-largest dollar-pegged token. Citing the IMF's annual report, CoinDesk said stablecoin use in cross-border transactions has expanded this year due to low transaction costs.
What partners are saying
Lily Liu, president of the Solana Foundation, said stablecoins had been missing a path to mainstream adoption, something she said the Samsung partnership addresses.
"Stablecoins have the potential to make moving money around the world faster and easier, and we want Galaxy users to be able to take advantage of that without having to navigate the complexity of traditional crypto tools" (Lily Liu, Solana Foundation)
Kevin Lehtiniitty, CEO of Borderless.xyz, went a step further in a LinkedIn post. He said he expects Apple and Google to follow. That's his prediction, and the announcement doesn't speak for either company.
Frequently asked questions
How will USDC transfers work in Samsung Wallet?
Eligible U.S. Galaxy users can send USDC to compatible crypto wallets abroad or to eligible bank accounts in more than 60 countries, where bank recipients get local currency. Customers fund transfers through integrated on- and off-ramps, and sending requires biometric authentication on a registered Galaxy device.
Does Samsung charge fees for USDC transfers?
Samsung said it won't charge fees for USDC transfers to compatible external wallets. Recipient wallets or exchanges may charge their own fees.
Which companies are behind Samsung's USDC feature?
According to the announcement as reported by CoinDesk, Solana and Sui provide the blockchain network support, Coinbase custodies the stablecoin through Coinbase Prime Vault, and Bastion provides the regulated stablecoin infrastructure.
Will Samsung's USDC transfers be available outside the U.S.?
The launch is U.S.-only for now. Samsung hasn't said when the feature will expand beyond the U.S., and future availability will depend on local regulation.
