Samsung Wallet to add USDC remittances for 82M devices

Samsung Electronics America will add USDC transfers to Samsung Wallet in the last week of October, giving eligible users in the United States a way to send stablecoins to crypto wallets or local-currency payouts to bank accounts in more than 60 countries. The company says the feature will be available across 82 million compatible Galaxy devices. In its launch announcement, Samsung says users can start without installing another crypto app or managing private keys.

The transfer has several parts. Samsung Wallet provides the interface and requires biometric authentication on a registered Galaxy device. Bastion provides the stablecoin accounts and payment infrastructure. Coinbase acts as sub-custodian for USDC through Coinbase Prime Vault. Solana and Sui are among the partners Samsung names for blockchain network support.

How will a user send money through Samsung Wallet?

At launch, USDC will be the first supported stablecoin and the default dollar stablecoin when users choose to buy one. A sender can choose between two routes: transfer USDC to a compatible crypto wallet abroad, or send money to an eligible bank account, where the recipient may receive local currency. The Solana Foundation’s announcement of its Samsung partnership describes integrated fiat on- and off-ramps for converting between stablecoins and local currency.

For a crypto-wallet transfer, the recipient needs a wallet or exchange account that supports USDC on a network supported by Samsung Wallet. The blockchain network processes the transfer behind the app interface. For a bank payout, the recipient does not need a crypto wallet; the service routes the money to a qualifying account in local currency.

Who can use it, and what will transfers cost?

The initial rollout is for eligible U.S. residents aged 18 or older with a Samsung Account, a compatible Galaxy device running Android 13 or later, identity verification and biometric setup. Samsung says it will not charge for transfers to external crypto wallets, though the recipient’s wallet provider or exchange may charge a fee. Bank transfers are different: fees vary by destination and amount, and the app will show the fee and estimated delivery time before the sender confirms.

The launch is scheduled for late October, so the service is not yet available. Samsung says expansion to other countries may follow, subject to local regulations. The first rollout is a way to access USDC transfers through a familiar phone wallet, while custody and money movement are handled by regulated partners.

Source material

• launch announcement — samsung-newsroom-production.barbariangroup.com
• announcement of its Samsung partnership — prnewswire.com