Samsung Wallet to Launch USDC Transfers in October

Samsung plans to introduce USDC transfers to the Samsung Wallet payment app for eligible US Galaxy users in the last week of October.

The company announced that the feature will let users send USDC to compatible crypto wallets internationally and transfer money to eligible bank accounts in more than 60 countries, where recipients can receive funds in their local currency. 

Samsung said the feature will be available on 82 million compatible Galaxy devices in the US, but users must complete identity verification to access the service.

Bastion will provide stablecoin account and payment infrastructure, with Coinbase serving as a sub-custodian through Coinbase Prime Vault.

Samsung also named Solana and Sui as technical partners.

Related: Samsung unit explores stablecoin infrastructure with Upbit’s operator

Online and in-store stablecoin payments could follow

Samsung announced plans to integrate stablecoins into Samsung Wallet during its Galaxy Unpacked event in July. At the time, the company didn’t disclose which stablecoins it would support, its infrastructure partners, or a launch timeline. 

The service will be limited to US residents aged 18 or older with eligible Galaxy devices running Android 13 or later.

Samsung said it will not charge for USDC transfers to external wallets, although recipient platforms may impose fees. International bank transfers will incur charges that vary by destination and amount. Samsung said future features could include online and in-store stablecoin payments. 

Borderless.xyz CEO Kevin Lehtiniitty told Cointelegraph that his company’s network will handle payouts in more than 60 countries, while Bastion provides the regulated infrastructure supporting the service.

“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 predicted that Apple and Google would introduce similar stablecoin capabilities, potentially making international money transfers as convenient as sending text messages.

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