Samsung Wallet to Launch USDC Transfers in October

Samsung is preparing to introduce USDC transfers through its Samsung Wallet payment app, with the feature expected to become available to eligible Galaxy users in the United States during the final week of October.

The company announced that the service will allow users to send USDC to compatible cryptocurrency wallets worldwide and transfer funds to eligible bank accounts in more than 60 countries. Recipients of international bank transfers will be able to receive the money in their local currencies.

Samsung said the feature will be supported on approximately 82 million compatible Galaxy devices in the US, although users will need to complete identity verification before accessing the service.

Samsung partners with Coinbase and Bastion for stablecoin transfers

Samsung has partnered with several companies to support the new stablecoin functionality. Bastion will provide the stablecoin account and payment infrastructure, while Coinbase will serve as a sub-custodian through its Coinbase Prime Vault service.

Samsung also identified Solana and Sui as technical partners involved in the initiative. The announcement follows Samsung's earlier plans to integrate stablecoins into Samsung Wallet, first revealed during its Galaxy Unpacked event in July. At the time, the company had not specified which stablecoins would be supported, the infrastructure providers involved or the expected launch date.

USDC transfers to reach more than 60 countries

The service will initially be available to US residents aged 18 and older who own eligible Galaxy devices running Android 13 or later. Samsung said it will not impose fees on USDC transfers to external cryptocurrency wallets, although receiving platforms may apply their own charges.

International bank transfers will carry fees that depend on the destination country and the amount being transferred. Borderless.xyz CEO Kevin Lehtiniitty told Cointelegraph that his company's network will facilitate payouts in more than 60 countries, while Bastion will provide the regulated infrastructure supporting the service.

Samsung eyes online and in-store stablecoin payments

Samsung indicated that future developments could expand stablecoin functionality beyond transfers to include payments at online merchants and physical retail locations. The initiative reflects growing interest in integrating cryptocurrency-based financial services into widely used consumer applications.

“Mass adoption was never going to come from people downloading crypto apps. It comes from the phone already in your pocket,” Lehtiniitty said. He also suggested that Apple and Google could eventually introduce comparable stablecoin services, potentially making international money transfers as straightforward as sending text messages.

Sources:

https://news.samsung.com/us/samsung-wallet-bring-stablecoin-access-eligible-galaxy-users-us/

https://cointelegraph.com/news/samsung-wallet-usdc-transfers-us-galaxy-users-october