Samsung Electronics America announced on October 7 that it will begin offering stablecoin wallet features in Samsung Wallet to U.S. Galaxy users in the final week of October. The first supported asset will be USDC, a U.S. dollar-linked stablecoin. Eligible users are U.S. residents aged 18 or older with a Samsung account and a compatible Galaxy device running Android 13 or later. Account enrollment, identity verification and biometric authentication setup are required. Samsung said there are 82 million Samsung Wallet-compatible Galaxy devices in the United States.
Users will be able to send USDC to external wallets and exchange accounts on supported networks. Samsung will not charge a fee for these transfers, although the receiving provider may charge one. Users will also be able to send funds to supported bank accounts in more than 60 countries, with recipients receiving local currency. Bank transfer fees vary by country and amount, and the app will display the fee and estimated arrival time before the transfer is confirmed.
Regulated partners will provide account, custody and transfer services, with Bastion supplying the related infrastructure. Coinbase is Bastion’s official sub-custodian and will hold Samsung Wallet’s USDC in Coinbase Prime Vault. Solana and Sui are among the network support partners.
Samsung said it is not a bank, money transmitter or digital-asset custodian and does not hold customer funds. Use of the service is subject to partner terms. Online and in-store payments and expansion to additional countries were presented as possible future features. The announcement did not provide a specific list of countries supported for international bank transfers or the applicable fee rates.