Samsung Wallet will natively support stablecoins, the company said at Galaxy Unpacked, expanding its financial ecosystem to millions of users. More details due soon.
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Samsung said Wednesday its Wallet app will add native stablecoin support, integrating digital assets into its payments and rewards system. The announcement came at the company's Galaxy Unpacked event in Seoul.
“Looking ahead, Samsung Wallet will expand beyond cash and savings. It will include new forms of digital value, including stablecoins,” Lee Dinham, a product manager at Samsung, told the audience.
A presentation slide showed a wallet interface holding Circle's USDC. Samsung did not name USDC or Tether's USDT as confirmed partners.
Dinham called the integration a milestone that makes Samsung “one of the first major mobile brands to bring native stablecoins to a smartphone, enabling fast and trusted digital value transfers.”
Samsung also introduced its first credit card at the event. The Samsung Galaxy Card offers 5% cash rewards on eligible purchases at Samsung stores. Dinham said the card and stablecoin support together turn Samsung Wallet into “the foundation of a connected financial ecosystem across Galaxy devices and services, bringing payments, rewards, and digital assets together in one unified experience.”
Samsung embedded a cryptocurrency wallet in the Galaxy S10 in 2019, secured by a hardware module. In October, the company integrated Coinbase One into Samsung Wallet for U.S. users.
No timeline for the stablecoin rollout was given. Samsung said it will share more details in the coming months.
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