Samsung Wallet Launches USDC on Solana for Eligible US Galaxy Users

Samsung Wallet's Stablecoin Account is live for eligible Galaxy users in the United States. They can buy, hold and transfer USDC on Solana without a separate crypto app. Samsung confirmed the rollout on Thursday, November 5, after announcing the feature on October 7.

About 82 million Galaxy devices are compatible. That counts supported phones, not registered customers or active users, so the real audience will be smaller. Samsung had initially planned to launch in the final week of October.

Who qualifies

Users must be US residents, at least 18, hold a Samsung Account and run Android 13 or later on a supported device. They must also pass identity checks and biometric approval. New York residents are excluded.

Fees and custody

Samsung charges no transfer fee for sending USDC to other Samsung Wallet users or to external wallets that support the token. Outside wallet providers and recipient exchanges may still charge fees, and network conditions can affect delivery times.

Samsung does not hold customer funds directly. Bastion, a licensed stablecoin custodian, operates the accounts and transfer services. Coinbase holds the USDC through Coinbase Prime Vault as sub-custodian. Users do not need to manage private keys.

Payouts go to eligible bank accounts in more than 60 countries, with local currency conversion. Costs depend on destination and amount. Banks may apply their own restrictions.

"For a decade, stablecoins have proved the technology works,"

Lily Liu, Solana Foundation President

What comes next

Samsung is considering online and in-store stablecoin payments but has given no launch date. It may expand outside the US, subject to local rules, and has not named target markets.

Market context

The launch puts USDC on a large installed base of phones. Circle recorded $865 million in third-quarter revenue and reserve income, with USDC transaction volume up 49% from a year earlier.

Coinbase, the sub-custodian here, has been active on stablecoins elsewhere. It recently listed Ripple's RLUSD across Prime, Exchange and the retail app.

The caveats are real. Identity and biometric gates, the New York exclusion and the gap between compatible devices and active users all narrow the eligible pool. Adoption data, not the 82 million headline, will show whether a wallet built into the phone moves USDC usage.