Mobile Sellers Are Here to Grab Stablecoin Access

Samsung's 7-Year Journey in Web3: From Crypto Wallets to Stablecoin Transfers and Cross-Border Remittances.

Written by: KarenZ, Foresight News

Samsung's story with Crypto began seven years ago.

In 2019, Samsung started experimenting with integrating crypto wallets and private key management tools into its phones.

Seven years later, Samsung's focus has further extended to financial services such as stablecoin transfers and cross-border remittances.

On October 7, Samsung Electronics America, Inc. announced partnerships with Coinbase, Bastion, Solana, and Sui to introduce USDC stablecoin functionality in Samsung Wallet, set to launch for eligible Galaxy users in the last week of October. The potential scale of devices covered by this service reaches 82 million.

From mobile crypto asset management to NFT and trading platform collaborations, and investments in crypto exchange equities, various business entities under Samsung have made multiple attempts. This collaboration adds a more direct use case: users can access stablecoins to complete a transfer.

82 Million Galaxy Devices, Samsung Integrates USDC into Mobile Wallet

If users opt for self-custody crypto wallets, they typically need to manage their private keys and deal with network selection and address compatibility issues. The stablecoin functionality Samsung is preparing to offer aims to reduce some of these operations: users will not need to install a separate crypto application or manage private keys themselves.

The initially supported USDC is a dollar stablecoin issued by Circle. Eligible U.S. Galaxy users will be able to purchase and send USDC directly within Samsung Wallet in the future.

According to the announcement, the new functionality mainly includes two types of transfer scenarios.

The first type is sending USDC to compatible external crypto wallets or exchange accounts. Samsung does not charge fees for these transfers. However, the receiving platform may charge fees, and the transfer speed depends on the blockchain network conditions.

The second type is remitting to eligible bank accounts in over 60 countries, with the recipient receiving local currency without needing a crypto wallet. This path incurs fees, which vary based on the destination and remittance amount.

Another striking number in the announcement is 82 million. However, the footnote of Samsung's announcement clarifies that this refers to the number of Galaxy devices compatible with Samsung Wallet in the U.S. Actual usage will also require meeting service eligibility and identity verification requirements.

This collaboration involves multiple companies, each responsible for different aspects.

Bastion provides stablecoin accounts, custody, and fund transfer services; Coinbase offers sub-custody for USDC through Coinbase Prime Vault, which is responsible for asset custody on behalf of the main service provider. Samsung provides the access point and device-side security capabilities but does not hold customer funds.

Solana and Sui provide support for the relevant blockchain networks, with differing technical features emphasized in the two announcements.

The Solana Foundation states that users will be able to conduct Solana-based USDC cross-border transfers through the familiar Samsung Wallet interface and utilize integrated fiat deposit and withdrawal and local currency conversion features.

Sui emphasizes fee-free stablecoin transfers. According to its description, users can send USDC on the Sui network without needing to hold SUI to pay network fees. This is made possible by Sui's previously launched Gasless Stablecoin Transfers feature.

From the disclosed functionalities, Samsung is initially preparing to offer stablecoin transfers and cross-border remittances. For consumers, the significance of this change lies in the ability to access related services from a familiar wallet entry, reducing the steps involved in using independent crypto tools.

From Blockchain Wallets to NFTs, Samsung's Seven-Year Web3 Exploration

Samsung's connection to the crypto industry can be traced back to 2019.

That year, Samsung provided blockchain wallet and Keystore private key protection capabilities around the Galaxy S10 and introduced the Blockchain Platform SDK for developers. Developers could integrate blockchain functionalities into mobile applications, allowing users to manage crypto assets and access decentralized applications through their phones.

In 2021, the Samsung Blockchain Wallet added support for connecting with external hardware wallets like Ledger Nano S and Nano X, enabling users to view and manage related crypto assets through Galaxy devices.

The product focus during this phase was on private key protection, asset management, and developer tools, primarily targeting users already needing blockchain applications.

In 2022, Samsung launched Samsung Wallet, consolidating payment cards, membership cards, passwords, and digital keys into one application. At that time, the announcement also stated that its crypto asset-related functionalities included centralized views of holdings from certain exchanges.

That same year, Samsung explored NFTs in various consumer electronics scenarios, but the collaboration scope with TVs and Galaxy needs to be understood separately.

In the TV sector, Samsung's acquisition of the NFT marketplace Nifty Gateway provided NFT browsing, purchasing, trading, and display capabilities around certain TV products. Notably, Nifty Gateway officially announced its closure in February 2026.

In the Galaxy ecosystem, Samsung signed letters of intent with partners like Theta Labs, planning to allow Galaxy NFT holders to receive discounts, points, and other offline benefits through certification. The focus here is on connecting digital collectibles with consumer rights.

By 2025, Samsung's collaboration with Coinbase further involved payment access for crypto trading. In July, both parties announced the integration of Samsung Pay within the Coinbase app, facilitating eligible users to purchase crypto assets or top up their accounts; in October, Samsung provided Coinbase One membership benefits for eligible Samsung Wallet users.

Compared to previous collaborations, the USDC functionality announced in October 2026 proposed a new product direction: directly providing stablecoin transfers and cross-border remittance experiences within Samsung Wallet.

Thus, Samsung's exploration of scenarios is extending to more specific fund transfer needs. However, these are different products and attempts at different stages.

Investing in Upbit's Parent Company, Samsung Deepens Digital Asset Infrastructure

Beyond consumer wallets, Samsung's affiliated companies have also entered the digital asset infrastructure field through equity investments.

An official statement from Samsung SDS revealed that in May 2026, Samsung Securities, Samsung SDS, and Samsung Card decided to collectively acquire a 4% stake in Dunamu for a total of 612.8 billion KRW (approximately 457 million USD). Samsung Securities holds 2%, while Samsung SDS and Samsung Card each hold 1%. Dunamu is the operator of the South Korean crypto exchange Upbit.

In the subsequent second-quarter earnings report, Samsung SDS described this investment as having acquired equity in May and proposed to combine its IT services, cloud computing, and security capabilities with Dunamu's blockchain technology to expand the digital asset infrastructure market.

The same page also disclosed that Samsung SDS has accumulated relevant technical capabilities through the tokenized securities platform project of the Korean Securities Depository and the full-process verification of stablecoins from issuance to settlement in collaboration with Korean financial institutions.

This indicates that Samsung SDS's work has already involved technical aspects of stablecoin issuance and settlement. However, process verification and public issuance and operation of stablecoins are different levels of progress.

Another point that needs clarification is the controversy surrounding the participant list for Open USD (OUSD) this year.

At the end of June, the stablecoin project Open Standard announced the dollar stablecoin Open USD (OUSD) and the related list of companies, with names like Samsung Electronics, Dunamu, Visa, and Mastercard appearing in related reports.

However, according to South Korean media Chosun Biz on July 3, several Korean companies listed in the roster stated they had not engaged in formal cooperation discussions with the OUSD issuer. Companies like Dunamu indicated that they had only received inquiries about participation intentions and had not formally confirmed joining.

Upbit also told Cointelegraph that it did not participate in the issuance of Open USD but expressed a willingness to consider future participation in the OpenStandard ecosystem expansion.

Three months later, Samsung Electronics officially announced support for USDC in Samsung Wallet. Compared to the controversial participant list for OUSD, this collaboration has official announcements from Samsung, Solana, Sui, and other participants, clarifying the launch plans and respective responsibilities.

Conclusion

Over the past seven years, Samsung and its affiliated companies have explored digital assets, extending from mobile private key protection, asset management, and NFTs to trading platform collaborations and financial infrastructure. Now, with USDC entering Samsung Wallet, stablecoin transfers and cross-border remittances become a new business direction. However, online shopping and offline stablecoin payments belong to capabilities that may be added in the future.

Behind this, Samsung's greatest advantage may not be blockchain technology, but its vast user base of devices and existing digital wallet ecosystem. For Samsung, what is truly worth observing is whether stablecoins can transition from a crypto feature to a daily financial tool that ordinary users are willing to use.