Samsung Wallet adds USDC purchases via Stripe for eligible US Galaxy users
In brief
- Eligible US Samsung Wallet users can buy USDC through Stripe via Samsung Pay, cards or ACH.
- 82 million figure counts compatible US Galaxy devices, not active users.
- Bastion provides the custodial wallet; USDC sits in Coinbase institutional custody.
- Eligibility requires age 18 or older and Android 13 or later; New York is excluded.
- Fees vary by method and destination and appear before confirmation.
The headline number needs a caveat. The 82 million US Galaxy devices the companies cited measures compatible hardware, not active users, so it's not a count of people who'll actually hold USDC.
Stripe processes the funding. According to the company, its purchase flow handles identity verification, compliance and fraud prevention. At the time of CryptoSlate's report, USDC was up 0.01% over 24 hours and ranked sixth by market cap.
How funding and custody work
Bank accounts and cards have to be in the user's own name, and dollars added through them become USDC. Users can also fund through Coinbase (that route opens a Coinbase webpage, where Coinbase's own terms and fees apply) or receive USDC from an external wallet on a supported network.
Once it's funded, the account can hold, send and receive USDC. Withdrawals to a bank account or debit card convert it back to dollars.
Samsung doesn't hold the coins itself. The company says Bastion provides the custodial wallet, with USDC held in Coinbase's institutional custody through Bastion's arrangement.
Who's eligible (and who isn't)
According to Samsung's support FAQ, users have to be at least 18 and live in a US jurisdiction where the service is available. New York residents are excluded, and each person can hold only one account in their own name.
Samsung's device requirements are specific: an eligible phone has to run Android 13 or later with built-in fingerprint authentication enabled, and fingerprints are required both to access the account and to approve transactions. Opening an account requires a name, address, birth date and taxpayer identification number; applicants can also be asked for government ID, a selfie, or occupation or source-of-funds information.
Fees, limits and the fine print
Samsung hasn't framed this as a free product. Funding, withdrawal and sending charges vary by method and destination, and transaction fees are displayed before confirmation in Wallet or on the provider's webpage. Banks, card issuers and external wallet providers can add separate charges.
Samsung's October announcement said it doesn't charge for USDC transfers to external wallets, although recipient providers might. A maintenance fee can apply after more than a year of dormancy, and limits vary by method, destination and account status (they can also change over time).
For users moving USDC to another wallet, network compatibility matters.
Samsung warns that sending an unsupported asset or using the wrong network can cause permanent loss of funds.
Frequently asked questions
Who can buy USDC in Samsung Wallet?
Users must be at least 18 and live in a US jurisdiction where the service is available, and New York residents are excluded. Each person can hold one account, and the device must run Android 13 or later with fingerprint authentication enabled.
Who holds the USDC in a Samsung Wallet account?
Samsung says Bastion provides the custodial wallet. The USDC is held in Coinbase's institutional custody through Bastion's arrangement.
What fees does Samsung Wallet charge for USDC?
Charges vary by method and destination, and transaction fees are shown before confirmation in Wallet or on the provider's webpage. Banks, card issuers and external wallet providers can add their own charges, and a maintenance fee can apply after more than a year of dormancy.
