USDC Stablecoin Transfers Coming to Samsung Wallet for American Galaxy Device Owners This October
In late October, Samsung will roll out USDC transfer functionality within Samsung Wallet, enabling eligible Galaxy device owners across the United States to make stablecoin-based payments.
In the final week of October, Samsung intends to roll out USDC transfer capabilities to its Samsung Wallet payment application, making the functionality available to qualified Galaxy users throughout the United States.
According to the company's announcement, this new capability will enable users to send USDC to other compatible cryptocurrency wallets across international borders and facilitate money transfers to qualifying bank accounts spanning more than 60 countries, with recipients able to collect funds denominated in their local currency.
The technology giant stated that this functionality will be accessible on 82 million compatible Galaxy devices currently in use across the US, though users will be required to go through an identity verification process before they can utilize the service. According to Samsung, transfers sent to external crypto wallets will not be subject to any fees, whereas international bank transfers will carry associated charges.
The stablecoin account infrastructure and payment processing will be handled by Bastion, with Coinbase functioning as a sub-custodian through its Coinbase Prime Vault solution.
In addition, Samsung identified Solana and Sui as its technical partners for this initiative.