Samsung has launched a stablecoin account that lets eligible Galaxy users in the U.S. receive, hold, and send USDC on the Solana network through Samsung Wallet.
According to a company statement cited by The Block, the Stablecoin Account provides access to USDC without requiring users to download a separate crypto app or manage private keys. The feature, announced on October 7, was initially scheduled to launch in the final week of the month; a November 5 announcement said the service was now available.
About 82 million devices are eligible in the U.S.
Samsung says about 82 million Galaxy devices in the U.S. are compatible with the service. To access it, users must be at least 18 years old, have a Samsung Account, and use a compatible device running Android 13 or later. New York residents are excluded.
This figure reflects the scale of compatible devices, not the number of people using the service. The initial rollout covers eligible users in the U.S.
Bank transfers are also available alongside USDC transfers
Users can send USDC to another Samsung Wallet user or a compatible external crypto wallet. Samsung does not charge its own transfer fee for these transactions.
Eligible users can also send money to certain bank accounts in more than 60 countries; recipients can receive the money in their local currency. Bank transfer fees vary depending on the destination.
Who holds the assets?
Stablecoin accounts and transfer infrastructure are operated by Bastion, a licensed custody and infrastructure provider. Coinbase holds the USDC as a sub-custodian through Coinbase Prime Vault.
Samsung also plans to explore online and in-store stablecoin payments in the future. Expansion into other markets will depend on local regulations.
Not investment advice.