Samsung Wallet adds USDC accounts on Solana for U.S. Galaxy users
USDC accounts go live in Samsung Wallet
Samsung Wallet has launched stablecoin accounts for eligible U.S. Galaxy users. A stablecoin is a digital token designed to stay close to the value of the U.S. dollar.
The accounts support USDC, a stablecoin from Circle, on the Solana blockchain. A blockchain is a shared digital record for tracking transactions. Users can buy, hold, send, and receive USDC without downloading a separate crypto app or managing private keys. A crypto wallet is a tool for holding digital assets.
The feature reaches about 82 million compatible Galaxy devices in the U.S., according to the announcement. Samsung first announced the feature on Oct. 7.
Transfers, top-ups, and bank payouts
- Users can send USDC to other Samsung Wallet users in the U.S. and to compatible outside crypto wallets with no Samsung transfer fee. Other providers may charge a fee.
- Users can send money to qualifying bank accounts in more than 60 countries. Recipients may receive local currency, and fees vary by destination.
- Credit card top-ups, including through Samsung Pay, carry a 4% fee. Withdrawals to a bank account or debit card also carry a fee.
- New users who make a first top-up of $50 or more can receive $25 in USDC.
Who is behind the service
The product is built with Bastion, a licensed stablecoin custodian and infrastructure provider. Custody means holding assets for users. Coinbase safeguards the USDC as Bastion's sub-custodian through its Coinbase Prime Vault.
Samsung disclosures stress that the account is a crypto wallet, not a bank account.
"Stablecoins have the potential to make moving money around the world faster and easier, and we want Galaxy users to be able to take advantage of that without having to navigate the complexity of traditional crypto tools," said Woncheol Chai, who leads the digital wallet team in Samsung's mobile business. "Solana helps us bring that experience to Samsung's scale."
Lily Liu, president of the Solana Foundation, said: "For a decade, stablecoins have proved the technology works. What they lacked was a way to reach the mainstream."
Who can use it and what comes next
The service requires Android 13 or later. It is open to U.S. residents 18 and older, except those in New York.
Samsung said it expects to explore online and in-store stablecoin payments and to expand to additional markets, subject to local regulation. Those steps are described as future plans, not confirmed launches.
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Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.