Samsung Wallet has launched stablecoin accounts for eligible Galaxy users in the United States, allowing them to buy, hold, send and receive USDC on Solana without a separate crypto app. Samsung says the feature is available across about 82 million compatible U.S. Galaxy devices. The service was developed with Bastion and Coinbase, with Coinbase safeguarding the USDC as Bastion’s sub-custodian. Users can send USDC to other Samsung Wallet users in the country and to compatible external wallets without a Samsung transfer fee, although other providers may charge one. They can also send funds to qualifying bank accounts in more than 60 countries, where recipients may receive local currency. Credit card top-ups carry a 4% fee, and withdrawals to a bank account or debit card also incur fees. The service requires Android 13 or later and is open to U.S. residents aged 18 and over, but is not available in New York. Samsung describes the account as a crypto wallet, not a bank account, and says it plans to explore stablecoin payments online and in physical stores.
The U.S. launch comes as South Korea considers whether similar services could be introduced under its developing digital-asset rules. At a policy seminar in Seoul, Park Hyun-soo, managing director at Samsung Global Research, said a won-denominated stablecoin could eventually be integrated into Samsung Wallet if one is issued. He pointed to Samsung’s U.S. service as a possible model. Park also identified tokenized securities settlement as a potential use: full-scale security token issuance is expected to begin next year. A proposal from South Korea’s financial regulator would allow stocks, bonds, investment funds and certain fractional investment products to enter a regulated tokenized market from February 4, 2027, with public consultation continuing until November 11. Financial firms are already exploring settlement applications, including a Eugene Investment & Securities and BEATOZ project testing subscriptions for tokenized securities.
Park cautioned that widespread adoption could affect bank lending, which relies on deposits, and could put pressure on financing for small businesses and borrowers with weaker credit profiles. Stablecoins that do not pay interest could also weaken the transmission of monetary policy. He warned that network effects might concentrate activity among a small number of issuers or give large technology companies considerable influence over digital payments. Anti-money-laundering and customer-verification requirements could raise transaction costs as well. Park said these concerns do not mean stablecoins should be rejected, but argued that the regulatory framework should account for them. Samsung’s potential expansion into South Korea would therefore depend on the issuance of a won-backed stablecoin and the rules governing its use.
Custody structure clarified
Coinbase supplied further details about the integration: USDC will be the default dollar-pegged stablecoin in Samsung Wallet for U.S. Galaxy users. It also clarified the custody roles: Bastion is the primary custodian, while Coinbase participates as a sub-custodian through Coinbase Prime Vault; Samsung neither holds customer funds nor acts as custodian. Access also requires identity verification and biometric authentication, such as a fingerprint or face scan. The rollout was expected around November 5.
Sui and Stripe expansion
Samsung Wallet’s stablecoin service may extend beyond Solana to the Sui network: Sui says USDC support is expected to become available to eligible U.S. Galaxy users later in November. The initial integration is limited to USDC and will not include the SUI token; for supported transfers, senders will not need to buy SUI or pay a network fee. Sui’s infrastructure handles the transactions, while Wallet provides the user interface. The network says it has processed more than $1 trillion in stablecoin transfer volume since August 2025.
The purchase routes have also been clarified: Stripe’s Crypto Onramp enables USDC purchases through Samsung Pay, credit and debit cards, and ACH bank payments. Dollars added through these methods are converted to USDC, while withdrawals to a bank account or debit card convert it back to dollars. Users may only use an account or card in their own name; Stripe handles identity checks, compliance and fraud prevention for purchases. Registration requires personal and taxpayer identification details, and applicants may be asked for additional documents or information. Samsung says opening an account is free, but funding, sending and withdrawal charges and processing times can vary by method and destination; fees appear before confirmation. The company also warns users to send USDC to external wallets only over a matching supported network, since choosing an unsupported asset or network can cause permanent loss. An account inactive for more than a year may incur a maintenance fee, and USDC balances are not covered by FDIC, NCUA or SIPC protections.