Samsung Wallet USDC Goes Live, but Not in New York

• Samsung Wallet has launched USDC stablecoin accounts on Solana for eligible Galaxy users across the United States.
• The service supports about 82 million compatible Galaxy devices, while New York residents remain excluded.
• Eligible users can transfer USDC without Samsung fees and send funds to qualifying bank accounts in more than 60 countries.
• Bastion operates the stablecoin accounts, while Coinbase provides custody through Coinbase Prime Vault.

Samsung Wallet has launched its Stablecoin Account for eligible Galaxy users in the United States. The service lets customers buy, hold, and transfer USDC through the Solana network, without installing another dedicated crypto application.

Samsung confirmed the rollout on Thursday, November 5, after announcing the feature on October 7. The company had initially planned to introduce it during the final week of October.

Samsung Wallet Access Covers 82 Million Devices

The service is compatible with about 82 million Galaxy devices across the United States. That figure counts supported phones, not registered customers or people who have opened stablecoin accounts.

Users must be at least 18, have a Samsung Account, and run Android 13 or later on a supported device. New York residents cannot use the service. Samsung outlined the initial eligibility and account requirements when it announced the product. Registration also requires identity checks and biometric approval on the device.

USDC Transfers Reach More Than 60 Countries

Eligible customers can send USDC to other Samsung Wallet users or external wallets that support the token. Samsung charges no transfer fee, although outside wallet providers may apply separate charges. Recipient exchanges may also charge fees, while network conditions can affect delivery times.

The service also supports payouts to eligible bank accounts in more than 60 countries. Recipients can receive local currency without opening a crypto wallet. Transfer costs depend on the destination and amount, and banks may have their own restrictions.

Bastion and Coinbase Provide Account Services

Bastion, a licensed stablecoin custodian, operates the accounts and transfer services. Coinbase holds the USDC through Coinbase Prime Vault under a sub-custody arrangement. Samsung does not directly hold customer funds, according to its disclosures.

Solana provides blockchain support for transfers. The Solana Foundation’s partnership announcement described how the service would let Galaxy users move money internationally within an existing phone application. Users do not need to manage their own private keys.

“For a decade, stablecoins have proved the technology works,” Solana Foundation President Lily Liu said.

Samsung Plans More Stablecoin Payment Features

The launch follows wider activity involving USDC issuer Circle. As reported by Blockonomi, Circle recorded $865 million in third-quarter revenue and reserve income. Its USDC transaction volume rose 49% from a year earlier.

Samsung is considering online and in-store stablecoin payments, but has not given a launch date. It may also expand the service outside the United States, subject to local rules. Samsung has not yet named its next target markets.