Samsung Wallet brings Solana USDC accounts to US Galaxy users

Is Samsung Wallet’s USDC account live for US Galaxy users? Yes: the feature went live on Nov. 5, allowing eligible customers to hold and transfer USDC on Solana, according to CoinMarketCap’s report on the launch. Samsung’s October announcement said the service would reach about 82 million compatible US Galaxy devices and support transfers to bank accounts in more than 60 countries.

The launch puts a custodial stablecoin account inside a widely used phone wallet, while leaving the underlying crypto network out of most users’ view.

What can users do with the new account?

Eligible users can buy, hold, send and receive USDC within Samsung Wallet, and send funds to compatible external crypto wallets or other Samsung Wallet users. Transfers to qualifying bank accounts in more than 60 countries are also supported, with recipients paid in local currency, Samsung said in its announcement of the feature.

Samsung says it does not charge a fee for transfers to external wallets, though the receiving wallet or exchange may charge one. Bank payouts are different: fees vary by destination and amount, and the app displays them before the sender confirms. The country list and recipient eligibility are shown in the app; Samsung has not published the full list in its announcement.

The feature is for eligible US residents aged 18 or older who have a Samsung Account and a compatible Galaxy device running Android 13 or later. Registration, identity verification and biometric authentication are required, and Samsung’s announcement says the service is available only in eligible jurisdictions. New York residents are excluded from the launch, according to CoinMarketCap.

Who holds the USDC, and how does Solana fit in?

The account is custodial: users do not manage private keys, and a service provider holds the assets on their behalf. Samsung says Bastion, a licensed stablecoin custodian and infrastructure provider, powers the stablecoin service, with Coinbase acting as sub-custodian through Coinbase Prime Vault. Samsung also says it does not hold customer funds or act as the custodian.

Solana is the blockchain network used for the USDC transfers described in launch coverage. That means the service connects Samsung Wallet’s familiar account interface to on-chain settlement, while custody and payment operations are handled by partners. The October announcement also named Sui as a potential network partner, but the launch coverage describes the live USDC account on Solana; the available reports do not confirm whether Sui transfers are active in the product.

What remains to be proven about the rollout?

The launch establishes availability, not adoption: Samsung has not reported how many users have opened accounts or sent funds. The 82 million figure refers to compatible US Galaxy devices, not active stablecoin customers. It therefore indicates potential reach rather than measured use.

The service’s practical reach will also depend on who qualifies, which bank accounts can receive payouts and the fees shown for each transfer. Samsung says it may expand to additional markets as local regulations allow, but has not announced a timetable for that expansion. For now, the confirmed launch is a US-only custodial USDC account with Solana transfers and cross-border bank payouts.

Sources

• CoinMarketCap’s report on the launch — coinmarketcap.com
• announcement of the feature — news.samsung.com