Samsung Wallet Launches Solana-Based USDC Accounts, Covering Roughly 82 Million Devices

Odaily Report: Samsung Wallet has rolled out stablecoin accounts for eligible Galaxy users in the United States, supporting the buying, holding, sending, and receiving of USDC on the Solana blockchain, covering approximately 82 million compatible devices. The service requires no separate crypto app download or private key management, and is not currently available to New York State residents.

The service was built by stablecoin custody and infrastructure provider Bastion in partnership with Coinbase, with Coinbase providing sub-custody of USDC to Bastion through Coinbase Prime Vault. Samsung notes that the accounts are crypto wallets, not bank accounts.

Transfers to other U.S. Samsung Wallet users and compatible external wallets incur no transfer fee charged by Samsung, though other providers may charge fees; remittances to eligible bank accounts in more than 60 countries and regions are subject to fees that vary by destination. Credit card top-ups incur a 4% fee, and withdrawals to bank accounts or via debit card also carry fees. (Decrypt)