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Samsung Wallet will add USDC remittances for Galaxy users

Samsung will add USDC transfers to Wallet in late October, letting eligible US Galaxy owners send crypto abroad or pay out to bank accounts in over 60 countries.

By Crypto Readout Editorial3 min read#d2c24e

Samsung Wallet will add USDC remittances for Galaxy users

Samsung Electronics says it will add USDC transfers to Samsung Wallet in the last week of October, giving eligible U.S. Galaxy users a way to send stablecoins abroad or pay out to bank accounts in more than 60 countries. The Samsung announcement says the service will cover 82 million compatible U.S. Galaxy devices; that is the number of devices, not confirmed users.

How does a Wallet transfer reach someone abroad?

A sender will first need a Samsung Wallet account and identity verification. At launch, the service supports USDC, a dollar-denominated stablecoin. The user can send it to a compatible crypto wallet, or choose an eligible bank account in a supported country. In the bank route, the recipient is due to receive local currency, so they do not need a crypto wallet.

Bastion’s announcement of its role fills in the payment path: Bastion keeps each customer’s stablecoin account ledger, executes USDC transfers on supported blockchains, converts USDC for bank payouts and routes those payouts through local regulated partners. Coinbase is the USDC sub-custodian through Coinbase Prime Vault. Samsung says Solana and Sui will provide blockchain network support.

Who holds the funds and authorizes a transfer?

The phone is the interface, but Samsung says regulated partners provide the accounts, custody and money movement. Bastion handles account operations and compliance checks, including identity verification and screening blockchain addresses and transactions. Coinbase holds the USDC in custody as Bastion’s sub-custodian.

To authorize a transfer, Bastion verifies a signature from the registered device. Samsung says users must also authenticate with biometrics. It is a little like a bank app asking for a fingerprint before sending money, with the added step that the value moves as USDC on a blockchain before a bank payout is converted into local currency.

What does “no transfer fees” cover?

Samsung says it will charge no fee when users send USDC to compatible external crypto wallets. The recipient’s wallet or exchange may still charge its own fee, and transfer speed depends on network conditions. Bank payouts have different terms: Samsung says fees apply, vary by destination and amount, and will be shown with an estimated delivery time before confirmation.

The launch is limited to eligible U.S. residents aged 18 or older with a Samsung Account, a compatible Galaxy device running Android 13 or later, identity verification and biometric setup. The service is scheduled for the last week of October. Samsung has not announced a date for expansion beyond the United States.

Sources