Samsung Wallet to add USDC transfers for US Galaxy users in late October
In brief
- Samsung plans USDC transfers in Samsung Wallet for eligible US Galaxy users in late October.
- Users can send USDC to compatible crypto wallets internationally, Samsung said.
- Bank payouts will reach more than 60 countries in recipients' local currency.
- Samsung charges no fee for wallet transfers; international bank transfers will incur fees.
- Bastion, Coinbase, Solana and Sui are named partners on the feature.
What Samsung says the feature does
Samsung said the USDC option will be available on 82 million compatible Galaxy devices in the US. That's the company's count of eligible hardware, not of users (and only eligible Galaxy users in the US are in scope, per the announcement).
Users will get two ways to move money. They'll be able to send USDC to compatible crypto wallets internationally, Samsung said, or transfer funds to eligible bank accounts in more than 60 countries, where recipients can receive the money in their local currency.
Access isn't automatic.
Users have to complete identity verification before they can use the service, according to the company.
Free to wallets, paid to banks
Samsung said it won't charge fees for transfers to external crypto wallets. International bank transfers are different. Those will incur fees, the company said.
So the pricing splits along the same line as the product itself. Sending USDC out to another crypto wallet doesn't carry a Samsung fee; turning it into a payout at a bank account abroad does.
The partners behind it
Samsung named four partners for the launch. Bastion will provide the stablecoin account and payment infrastructure for the feature, while Coinbase serves as a sub-custodian through Coinbase Prime Vault. Solana and Sui are the two technical partners, Samsung said.
That's an infrastructure provider, a custodian and two technical partners, each in the role Samsung assigned it. The company's announcement, as reported by Cointelegraph, names those roles and stops there.
What's the timeline? Samsung's target is the last week of October, and the feature is limited to eligible Galaxy users in the US. Anyone hoping to use it will need a compatible device and a completed identity check before they can send USDC to a crypto wallet or to a bank account in one of the 60-plus supported countries.
Frequently asked questions
When will Samsung Wallet support USDC transfers?
Samsung said it plans to introduce USDC transfers in the Samsung Wallet payment app for eligible US Galaxy users in the last week of October. The company said the feature will be available on 82 million compatible Galaxy devices in the US.
Does Samsung charge fees for USDC transfers in Samsung Wallet?
Samsung said it will charge no fees for transfers to external crypto wallets. International bank transfers will incur fees, according to the company.
Who are Samsung's partners for the Samsung Wallet USDC feature?
Samsung said Bastion will provide the stablecoin account and payment infrastructure, with Coinbase serving as a sub-custodian through Coinbase Prime Vault. Samsung also named Solana and Sui as technical partners.
