Samsung Wallet puts USDC on Solana—because apparently the boarding pass needed a crypto side hustle

Samsung Wallet launched stablecoin accounts for eligible U.S. Galaxy users on Thursday, bringing Circle’s USDC to the Solana blockchain alongside credit cards and boarding passes. Users can buy, hold, send, and receive USDC without downloading a separate crypto app or managing private keys, with the feature reaching about 82 million compatible Galaxy devices in the U.S., according to the announcement.

Samsung first announced the feature on Oct. 7, when the electronics giant tapped Solana for USDC transfers, after Samsung Wallet teased stablecoin support over the summer. The product was built with Bastion, a licensed stablecoin custodian and infrastructure provider, and Coinbase, which safeguards the USDC as Bastion’s sub-custodian through its Coinbase Prime Vault. Samsung emphasizes that the account is a crypto wallet, not a bank account.

USDC can be sent to other Samsung Wallet users in the U.S. and to compatible outside crypto wallets with no Samsung transfer fee, though other providers may charge one. Users can also send money to qualifying bank accounts in more than 60 countries, where recipients may receive local currency and fees vary by destination. Topping up with a credit card, including through Samsung Pay, carries a 4% fee, while withdrawals to a bank account or debit card also incur a fee. New users who make a first top-up of $50 or more can receive $25 in USDC. The service requires Android 13 or later and is open to U.S. residents 18 and older, except those in New York.

“For a decade, stablecoins have proved the technology works,” said Lily Liu, president of the Solana Foundation. “What they lacked was a way to reach the mainstream.” Samsung also said it expects to explore online and in-store stablecoin payments and expand to additional markets, subject to local regulation.

Polygon Labs is extending its stablecoin payments infrastructure to Solana, giving businesses on the rival network a single connection to pull money in from bank accounts, move crypto across chains, and pay out to customers and suppliers worldwide. The company said the expansion brings its Open Money Stack, a bundle of payments tools, to Solana for the first time. “Stablecoins have the potential to make moving money around the world faster and easier, and we want Galaxy users to be able to take advantage of that without having to navigate the complexity of traditional crypto tools,” said Woncheol Chai, who leads the digital wallet team in Samsung’s mobile business. “Solana helps us bring that experience to Samsung's scale.”