Samsung Wallet Integrates USDC Purchases via Stripe Across 82 Million U.S. Galaxy Devices

Eligible Samsung Wallet users in the United States can now purchase USDC using Samsung Pay, credit and debit cards, or ACH bank transfers through Stripe, the payments provider announced on November 5. The feature allows Galaxy device owners to convert U.S. dollars into the stablecoin directly within the wallet application.

Samsung initially unveiled the feature on October 7, with a rollout scheduled for late October. Stripe’s confirmation verifies the available payment methods, noting that the cited reach of 82 million U.S. Galaxy devices refers to compatible hardware.

According to Samsung’s support documentation, users can fund the account by opening the Stablecoin Account and selecting “Top up.” Bank accounts and payment cards must be registered under the user’s own name, and any dollars deposited through these methods are converted into USDC.

Additional funding options include transfers through Coinbase or receiving USDC from an external wallet on a supported network. Selecting the Coinbase option redirects the user to a Coinbase webpage, where Coinbase’s own terms and fees apply to transactions funded by an existing balance or a saved payment method.

The account supports holding, sending, and receiving USDC. Withdrawals to a bank account or debit card convert the stablecoin back into U.S. dollars.

Users must be at least 18 years old and reside in a U.S. jurisdiction where the service is offered. Residents of New York are ineligible, and each individual is limited to one account under their own name.

Eligible devices must run Android 13 or later and have built-in fingerprint authentication enabled. Fingerprint verification is required both to access the account and to authorize transactions.

Opening an account requires personal identifying information, including a name, address, date of birth, and taxpayer identification number. Applicants may also be asked to provide a government-issued ID, a selfie, occupation details, or source-of-funds information. Stripe manages identity verification, compliance screening, and fraud prevention throughout the purchase flow.

Fees for funding, withdrawals, and transfers vary depending on the method and destination, with costs displayed before confirmation within Samsung Wallet or the provider’s webpage. Banks, card issuers, and external wallet providers may apply separate charges.

Samsung’s October announcement indicated that USDC transfers to external wallets are free of charge, although the recipient’s provider may impose its own fees.

Transaction limits may differ by method, destination, and account status, and are subject to change over time. A maintenance fee may apply following more than one year of account inactivity.

Samsung notes that Bastion provides the custodial wallet infrastructure, with USDC held in Coinbase’s institutional custody under Bastion’s arrangement.

When transferring USDC to another wallet, network compatibility remains a critical constraint. Samsung cautions that sending an unsupported asset or using an incorrect network can result in the permanent loss of funds.

Source link