Stablecoins Go Mainstream as Samsung Wallet Adds USDC on Solana
Samsung Wallet has launched stablecoin accounts for eligible U.S. Galaxy users, supporting Circle's USDC on the Solana blockchain across approximately 82 million compatible devices.
The feature went live on Thursday for eligible U.S. Galaxy users, letting them manage USDC directly within Samsung Wallet without downloading separate crypto applications or handling private keys. The service reaches about 82 million compatible Galaxy devices in the United States.
The product is built with Bastion, a licensed stablecoin custodian, and Coinbase, which safeguards the USDC through its Coinbase Prime Vault. Samsung emphasizes that this is a crypto wallet, not a bank account.
Service Details
Users can send USDC to other Samsung Wallet users in the U.S. and to compatible external crypto wallets without Samsung transfer fees, though other providers may charge. They can also send money to qualifying bank accounts in over 60 countries, where recipients may receive local currency with destination-specific fees.
Credit card top-ups, including through Samsung Pay, carry a 4% fee, while withdrawals to bank accounts or debit cards also incur fees. New users who make an initial top-up of $50 or more can receive $25 in USDC.
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.
Future Plans
Samsung announced the feature on Oct. 7 when it selected Solana for USDC transfers. The service requires Android 13 or later and is available to U.S. residents aged 18 and older, excluding those in New York.
The tech giant expects to explore online and in-store stablecoin payments and expand to additional markets, subject to local regulatory approval.
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