Samsung turns on USDC accounts in its Wallet app for U.S. Galaxy users, a base of about 82 million compatible phones

Samsung has switched on stablecoin accounts inside its Wallet app in the United States. In a statement on Thursday, the company said eligible Galaxy users can now buy, hold and transfer USDC on the Solana network without a separate crypto app or private keys, The Block reported. Samsung first announced the feature on October 7, with launch expected in the last week of October.

About 82 million U.S. Galaxy devices are compatible, according to The Block. Users must be 18 or older, hold a Samsung Account and run Android 13 or later. New York residents are excluded.

Bastion, a licensed stablecoin custodian, runs the accounts and transfer infrastructure, and Coinbase holds the USDC as sub-custodian through Coinbase Prime Vault. Users can send USDC to other Samsung Wallet users or compatible external wallets with no Samsung transfer fee, and to qualifying bank accounts in more than 60 countries, with fees that depend on the destination.

Samsung said it plans to explore online and in-store stablecoin payments and expansion to other markets, subject to local rules. Woncheol Chai, who heads Samsung's digital wallet team, said Galaxy users should be able to benefit from stablecoins without dealing with complex crypto tools. The launch puts a stablecoin on a phone that many Americans already carry; how many will use it is not yet known.