Samsung Electronics America announced on October 7 that the stablecoin wallet feature will be available to eligible Galaxy users in the U.S. starting the last week of October. The initial rollout will cover 82 million Galaxy devices in the U.S., with further markets to follow based on local regulations.

Users do not need to install a separate crypto application or manage private keys themselves. Remittances will be integrated into the existing interface, alongside bank cards, boarding passes, and identification documents. When selecting "Buy Stablecoin," USDC will be the default dollar stablecoin. Funds can be transferred to compatible wallets or to qualified bank accounts in over 60 countries, with recipients possibly receiving local currency. The fiat currency entry and exit channels will handle conversions with local currencies.

USDC is operated jointly by Bastion and Coinbase. Bastion is a licensed custodian and infrastructure provider supervised by U.S. financial regulators, responsible for custody, account operations, compliance, and the cross-border payment framework. Coinbase acts as the secondary custodian for USDC through Coinbase Prime Vault. On-chain network support is provided by capable partners, including Solana and Sui, as named by Samsung.

On the same day, the Solana Foundation stated that Samsung Wallet and Samsung Pay will support stablecoins on Solana, with the underlying network hidden behind a familiar user interface. It also noted that the supply of stablecoins on Solana has increased by nearly 20% year-on-year, processing over $5.25 trillion in stablecoin transactions by 2026. Samsung's official announcement did not specify that the initial network would only be Solana.

This marks the next chapter in Samsung's existing collaboration with Coinbase. Previously, the Coinbase app had listed Samsung Pay as a payment option, and eligible users could access Coinbase One benefits through Samsung Wallet. During the Galaxy Unpacked event in London on July 22, product lead Lee Dinham mentioned that stablecoins would become a layer for quick transfers within the wallet when introducing the U.S. Galaxy Card in partnership with Barclays and Visa.

The buyers are Galaxy users looking to make cross-border remittances without managing keys separately, while the sellers are bank remittance channels and independent crypto wallets. This is a distribution driven by pre-installed entry points, not announced remittance volumes. Funds will shift from wire transfers and currency exchange points to USDC within wallets and local currency deposits in over 60 countries. Beneficiaries include Coinbase, Bastion, Solana, and Sui in this custody and settlement chain, while those charging transaction fees and requiring users to switch to external applications will face pressure.

Source: Public Information