Samsung plans to integrate stablecoin functionality into Samsung Wallet, letting Galaxy device owners make crypto payments alongside traditional transactions.
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Samsung will add stablecoin functionality to its Wallet app, letting Galaxy device owners send and receive stablecoins alongside traditional payments. The company announced the plan during its Galaxy Unpacked event. It did not say which stablecoins would be supported or when the feature would launch.
Samsung is embedding the feature directly into the existing Wallet rather than building a separate app. The app already handles credit cards, loyalty rewards, and digital IDs. The stablecoin addition will put crypto payments in the same place.
Last October, Samsung added Coinbase functionality to the Wallet for U.S. users. That allowed qualifying users to buy digital currencies without leaving the Samsung ecosystem. Samsung said it planned to roll out the service to other markets, though it gave no timeline.
Beyond the wallet, Samsung has invested in South Korea's crypto sector. In May, three affiliates – Samsung Securities, Samsung SDS, and Samsung Card – bought a 4% stake in Dunamu, the operator of the Upbit exchange. The purchase, roughly 1.39 million shares, was valued at about 612.8 billion won. Samsung Securities said it plans to issue tokenized securities with Dunamu. Samsung Card has explored won-pegged stablecoin projects through its Monimo platform.
Samsung has also stepped back from a separate stablecoin consortium, Open Standard's OUSD proposal. The company's current focus is on the Wallet integration.
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