Stablecoins have spent a decade growing inside crypto apps. Now Solana is getting them onto one of the most widely used smartphones in the U.S. Starting today, eligible Galaxy users in the U.
Stablecoins have spent a decade growing inside crypto apps.
Now Solana is getting them onto one of the most widely used smartphones in the U.S.
Starting today, eligible Galaxy users in the U.S. can buy, hold, send and receive USDC on Solana inside Samsung Wallet.
Samsung first announced the feature, called Stablecoin Account, on Oct. 7.
USDC is a stablecoin, a digital token designed to hold a steady value of $1. Solana is a high-speed blockchain network built for fast, low-cost transactions. All transfers settle on Solana.
According to the company statement, the feature reaches roughly 82 million compatible Galaxy devices in the U.S. at launch.
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Users don’t need a separate crypto app or private keys, the secret passwords that normally control a crypto wallet. USDC appears in the same app as their cards, boarding passes and IDs.
A look inside Samsung Wallet’s Stablecoin Account, which shows a USDC balance next to options for sending money internationally and transferring on Solana.“This puts stablecoins into consumers’ day-to-day behavior, and is the type of global adoption Solana is built to handle,” said Lu Yin, head of APAC at the Solana Foundation, the nonprofit that supports the network’s growth.
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 still charge fees. Eligible users can also send money to qualifying bank accounts in more than 60 countries, where recipients may receive local currency. Fees and availability depend on the destination.
Lily Liu, president of the Solana Foundation, said stablecoins have spent a decade proving the technology works but lacked a way into the mainstream.
"Samsung’s decision to work with Solana puts digital dollars into everyday life through one of the world’s most trusted technology brands," she said.
Samsung built the feature with Bastion, a licensed stablecoin custodian and infrastructure provider.
Coinbase holds the USDC as Bastion’s sub-custodian through Coinbase Prime Vault. A custodian is a firm that holds assets on its customers’ behalf.
To be eligible, users must:
The feature is not available to New York residents.
Woncheol Chai, executive vice president and head of the Digital Wallet Team at Samsung Electronics’ Mobile eXperience business, said Samsung wants Galaxy users to use stablecoins “without having to navigate the complexity of traditional crypto tools.”
He added: “Solana helps us bring that experience to Samsung’s scale.”
Samsung says it expects to explore online and in-store stablecoin payments next, along with expansion to more markets, subject to local regulation.
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