MV Capital | Samsung Wallet Rolls Out USDC Accounts on Solana for Millions of US Galaxy Users

Eligible Galaxy owners in the United States can now buy, hold, send and receive USDC directly in Samsung Wallet without a separate crypto app or private keys

Samsung has activated stablecoin accounts inside its Wallet app for eligible Galaxy smartphone users across the United States, enabling them to buy, hold, send and receive Circle’s USDC on the Solana blockchain. The service is available on approximately 82 million compatible devices and places digital-dollar functions alongside familiar tools such as payment cards and boarding passes.

The feature went live on November 5, following an initial announcement on October 7 and earlier summer previews of Samsung’s stablecoin plans. Users do not need to install an additional cryptocurrency application or manage private keys. Samsung has stated that the account is a crypto wallet rather than a bank account.

Custody and Technical Partners

The product is powered by Bastion, a licensed stablecoin custodian and infrastructure provider. Coinbase serves as Bastion’s sub-custodian, securing the USDC balances through Coinbase Prime Vault. Solana provides the underlying blockchain network for transactions.

For a decade, stablecoins have proved the technology works. What they lacked was a way to reach the mainstream.Lily Liu, President of the Solana Foundation

Woncheol Chai, who leads the digital wallet team in Samsung’s mobile division, said the company aims to let Galaxy users access the benefits of stablecoins without dealing with the complexity of conventional crypto tools. Solana, he noted, helps deliver that experience at Samsung’s scale.

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. Solana helps us bring that experience to Samsung's scale.Woncheol Chai, Head of Digital Wallet Team, Samsung Mobile

Fees, Transfers and Incentives

Samsung charges no transfer fee when users send USDC to other Samsung Wallet holders in the United States or to compatible external crypto wallets. Other service providers may still apply their own charges. Users can also transfer funds to qualifying bank accounts in more than 60 countries, with recipients able to receive local currency. Fees for these cross-border bank transfers vary by destination.

Funding the account by credit card, including via Samsung Pay, carries a 4 percent fee. Moving funds out to a bank account or debit card also incurs a charge. New users who complete a first top-up of at least $50 receive a $25 USDC bonus.

Eligibility Requirements

Access is limited to United States residents aged 18 or older who hold a Samsung Account and use a compatible Galaxy device running Android 13 or later. Residents of New York are excluded from the service.

Samsung has indicated it plans to explore the use of stablecoins for online and in-store purchases and to expand the feature to additional markets where local regulations permit.