Samsung has launched support for USDC stablecoin accounts on its Samsung Wallet app, allowing eligible Galaxy users in the United States to buy, hold, send, and receive USDC on the Solana blockchain. This new feature covers about 82 million Galaxy devices compatible with the service, according to the company’s announcement.
Stablecoin Functionality Expands Samsung Wallet
With the update, users can manage USDC directly in Samsung Wallet without needing separate crypto apps or handling private keys. USDC, issued by Circle, is a stablecoin pegged to the US dollar and is designed to maintain a steady value. Solana, a high-performance blockchain network, was selected to facilitate these transactions, marking a significant integration of mainstream consumer tech with blockchain infrastructure.
Samsung collaborated with crypto custodian Bastion and major US exchange Coinbase to deliver the new account service. This partnership aims to streamline the process for users who want to participate in the digital economy while keeping security and ease of use front and center.
Samsung first unveiled plans for stablecoin integration last October, signaling growing interest from large technology companies in simplifying access to cryptocurrencies for everyday consumers. The service requires devices running Android 13 or later and is open to US residents aged 18 and older, except those residing in New York due to regulatory restrictions.
For a decade, stablecoins have proved the technology works, commented Lily Liu, president of the Solana Foundation. What they lacked was a way to reach the mainstream.
No Samsung Fees on Wallet Transfers
Transfers of USDC between Samsung Wallet users and to compatible external crypto wallets incur no fees charged by Samsung itself, although other third-party providers may impose their own fees. USDC can also be sent to qualifying bank accounts in over 60 countries, allowing recipients to receive funds in local currency. The associated transaction fees for these international payouts depend on the country of the recipient.
Topping up USDC accounts using a credit card in Samsung Wallet, including via Samsung Pay, comes with a 4% fee. Withdrawals to bank accounts or debit cards also carry a service fee. To encourage adoption, Samsung is offering an incentive to new users: anyone making their first top-up of $50 or more will receive $25 in USDC.
| Service | Samsung Fee | Other Fees |
|---|---|---|
| USDC transfer within Samsung Wallet | 0% | Possible external wallet fees |
| Credit card top-up | 4% | N/A |
| Bank payout (60+ countries) | Varies by destination | Recipient’s bank may charge fees |
| Withdrawal to bank/debit card | Applies | N/A |
Samsung Eyes Wider Rollout and In-Store Payments
Samsung stated it will explore options for both online and in-store stablecoin payments. Plans are also underway to expand the service to other global markets, subject to regulatory approvals. The move reinforces the company’s ambitions to merge traditional finance and digital assets for a broader audience.
Stablecoins have the potential to make moving money around the world faster and easier, and we want Galaxy users to benefit without navigating the complexity of traditional crypto tools, explained Woncheol Chai, who leads the digital wallet team at Samsung’s mobile division. Solana helps us bring that experience to Samsung’s scale.
Samsung Wallet already provides storage for digital items such as credit cards, tickets, and boarding passes, and now aims to become a central platform for digital currency management.
Polygon Expands to Solana
In related developments, Polygon Labs announced its expansion to Solana. Known for its Ethereum scaling solutions, Polygon is introducing its Open Money Stack payments infrastructure to Solana, creating a unified channel for businesses to receive funds, transfer crypto assets across chains, and perform global payouts. This expansion could streamline business operations involving multiple blockchains and traditional financial rails.
Mini dictionary: Polygon Labs is a technology company best known for the Polygon network, which provides Ethereum scaling solutions and multichain support to enhance blockchain interoperability and improve transaction speeds.
The inclusion of both Samsung and Polygon’s advancements highlights a growing trend of mainstream enterprises embracing stablecoin technology and blockchain infrastructure.
