Samsung Launches USDC Transfers with Solana and Sui

Samsung is preparing to offer cryptocurrency transfers to users through its digital wallet service, Samsung Wallet. The new service will support USDC transfers over the Solana and Sui networks. Users will be able to transfer the dollar-backed stablecoin USDC via Samsung Wallet. The service has the potential to cover approximately 82 million compatible Galaxy devices in the U.S. However, this figure represents the number of devices targeted for support, not the number of people who will actively use the feature. The new service is planned to be launched first in the U.S., allowing users to send money to eligible bank accounts in over 60 countries via USDC. This could reduce the need for users to use a separate application for cryptocurrency transfers. The availability of the service will depend on the country, device model, and relevant financial regulations. Coinbase and Bastion will also play a role in the infrastructure of Samsung's new stablecoin service. While users' USDC assets will be stored through Coinbase Prime Vault, Bastion will support custody services, identity verification, and international money transfer transactions. Samsung has announced that it will not charge fees for USDC transfers to compatible crypto wallets. However, recipient platforms may impose fees. For international transfers to bank accounts, fees may apply depending on the country and the amount sent.

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