Samsung Wallet to Add Stablecoin Support, Starting With USDC
In brief
- Samsung revealed stablecoin support for Samsung Wallet at Galaxy Unpacked on July 22.
- A wallet mockup displayed Circle's USDC, though partnership confirmation is pending.
- Launch date, blockchain, and custody model remain unannounced.
- Samsung expanded Coinbase integration last October, reaching 75 million U.S. Galaxy owners.
Expanding Digital Value
Lee Dinham, Samsung's product manager, stated that Samsung Wallet will expand beyond cash and savings. "It will embrace new forms of digital value, including stablecoins," he said. Dinham added that the move would make Samsung one of the first major smartphone brands to offer native stablecoins.
Samsung hasn't released critical details. The company didn't name a launch date, an issuer, or which blockchain the tokens would run on. It's also unclear whether the feature will be custodial—meaning Samsung or a third party holds users' funds—or non-custodial, where users retain full control.
Building on Crypto Infrastructure
Samsung built crypto storage into Galaxy phones back in 2019 through Knox, a hardware-isolated vault. The company later added support for Bitcoin, Ethereum, Tron, and Stellar. In 2021, Samsung let Galaxy owners link hardware wallets like the Ledger Nano S directly to that vault.
The stablecoin announcement follows a broader push into payments. Last October, Samsung expanded a deal with Coinbase that put crypto purchases directly inside Samsung Wallet for 75 million U.S. Galaxy owners. At the same event, Samsung unveiled the Galaxy Card, its first credit card in the United States, issued by Barclays on the Visa network. The card offers 5% cash back on Samsung purchases and 3% on Samsung Wallet transactions.
The stablecoin feature fits Samsung's strategy to deepen payments integration across its ecosystem. Whether stablecoins become a core part of Samsung Wallet depends on execution—custody model, supported chains, and actual launch timing remain unanswered.
