Jump to content
Onchain Report

Crypto news from every chain

Samsung Wallet to add USDC transfers for U.S. Galaxy users

Samsung will add USDC transfers to Wallet in late October, letting eligible U.S. Galaxy owners send money abroad or to bank accounts in 60-plus countries.

Onchain Report Newsroom#35275f2 min read

Samsung Wallet to add USDC transfers for U.S. Galaxy users

Samsung will add USDC transfers to Samsung Wallet in the last week of October, giving eligible U.S. Galaxy users a way to send money abroad through an app already on their phones, according to Samsung’s announcement. USDC is a stablecoin, a crypto token designed to track the U.S. dollar.

The feature is planned for 82 million U.S. Galaxy devices compatible with Samsung Wallet. Eligible users will be able to send USDC to compatible crypto wallets or send money to qualifying bank accounts in more than 60 countries. Bank recipients can receive local currency without needing a crypto wallet themselves.

Who can use Samsung Wallet’s USDC transfers?

The launch is for eligible U.S. residents who are at least 18, have a Samsung Account and use a compatible Galaxy device running Android 13 or later. Users must register, verify their identity and set up biometric authentication, such as a fingerprint or face scan.

Samsung says USDC transfers to compatible external wallets will have no Samsung transfer fee. The receiving wallet or exchange may charge its own fee, and transfer speed will depend on the blockchain network. Transfers to bank accounts are a separate service: fees vary by destination and amount, and the app will show the fee and estimated delivery time before the sender confirms.

Who handles the crypto and the transfers?

Samsung says Bastion will provide the payment framework and stablecoin services, while Coinbase will act as sub-custodian and safeguard USDC through Coinbase Prime Vault. A custodian holds crypto on behalf of users. Samsung says it does not hold customer funds or act as a bank or digital asset custodian.

Samsung named Solana and Sui among the partners that will provide infrastructure and blockchain network support. It has not said which networks will handle each transfer type. Biometric authentication on a registered Galaxy device will be required to send funds.

Will the service be available outside the U.S.?

Samsung has not announced a launch date for other markets. The company says any expansion will depend on local regulations. Its CoinDesk report on the launch also says Samsung may later add online and tap-to-pay stablecoin purchases, but those are possible future features, not part of the October rollout.

Sources