Key Insights:
- In stablecoin news, Samsung Wallet officially brings USDC on Solana to 82 million compatible Galaxy devices in the U.S.
- Users can transfer USDC to compatible wallets without paying transaction fees.
- The integration also enables transfers to eligible bank accounts in more than 60 countries, with Bastion powering accounts and Coinbase safeguarding USDC.
Stablecoin news: Samsung Electronics America has enabled USDC transfers on its Samsung Wallet app.
Announced on Oct. 7, the update is now live on roughly 82 million U.S. Galaxy devices. Galaxy owners can hold and send Circle’s USDC stablecoin directly from their built‑in Wallet, with Samsung charging no transfer fee.
Users can send USDC to compatible crypto wallets instantly, or remit funds to eligible bank accounts in 60+ countries (paid out in local currency).
No extra app or wallet is needed – the feature is integrated into Samsung Wallet so users “don’t need to install another app or manage private keys themselves”.
Stablecoin News: Zero‑Fee Cross‑Border Payments
According to Samsung, USDC on Solana will power fee‑free transfers within the Wallet interface. In practice, a Galaxy user taps “Buy Stablecoin,” sees USDC as the default dollar option, and can send it on Solana to any compatible wallet in seconds.
Samsung’s announcement and Solana’s statements make clear the company itself levies no fee on USDC transfers. (Any minor network fees or recipient charges would come from outside.)
This stablecoin news also unlocks global remittances. Eligible users can send money to verified bank accounts in over 60 countries, with recipients receiving local currency.
Samsung says transfers require only a biometric confirmation on a Galaxy device – no separate crypto account or app setup. This turns the Wallet app into a one‑stop remittance tool, akin to traditional money‑transfer services but using USDC on Solana as the rails.
As one analyst noted, the feature is built into an app many people already use for cards and IDs. It eliminates the extra step of installing a separate crypto app.
Bastion and Coinbase Secure Funds
Behind the scenes, licensed custodian Bastion and Coinbase are safeguarding the USDC. Bastion – a crypto payments firm regulated in the U.S. – “runs the payment framework behind the feature,” and it has named Coinbase Prime as its sub‑custodian.
Galaxy users’ USDC balances reside in Coinbase’s Prime Vault under Bastion’s custody framework. This arrangement means Samsung’s Wallet is not self‑custody. Instead, the stablecoin news reveals that regulated entities hold stablecoin assets on users’ behalf.
This custody setup follows Samsung’s previous partnership with Coinbase. Earlier this year, Samsung and Coinbase worked together to add crypto access (coins and NFTs) to 75 million Galaxy phones.
The new USDC rollout expands that reach to 82 million devices and adds stablecoin remittance functionality. Samsung officials say they chose USDC because it’s backed 1:1 by U.S. dollars and has the liquidity needed for large‑scale payments.
The phone maker’s digital wallet lead, Woncheol Chai, explained that Samsung’s goal is to “simplify access to stablecoins” and help users avoid the complexity of traditional crypto tools.
Samsung’s solution uses two blockchains as plumbing. Solana provides the backbone for cross‑wallet USDC transfers, while the Sui network powers gas‑free transfers between Samsung devices.
In effect, Solana settles the payments, and Sui carries them from phone to phone. This split leverages Solana’s high-volume stablecoin throughput while keeping on‑device moves fast and cheap. According to the official Solana press release, the network has processed over $5.25 trillion in stablecoin volume this year alone.
The integration into Samsung Wallet follows a pilot reveal at Galaxy Unpacked in London, when Samsung hinted at built-in crypto features without details. Future updates may add more stablecoins and regions, subject to regulation.
