BlockBeats says Samsung plans to support Samsung Wallet in USDC cross-border transfers
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AT A GLANCE
BlockBeats says Samsung plans to launch Samsung Wallet for eligible US Galaxy users in USDC cross-border transfers.
Article
Analysis: The “GENIUS Act” paves the way for Samsung stablecoin payments, covering 82000000 US Galaxy users
According to BlockBeats,October 17，Solana a relevant official from the Solana Foundation stated that the US “GENIUS Act” provides regulatory impetus for companies and financial institutions to enter the stablecoin sector and is also one of the important background factors behind Samsung’s launch of stablecoin payment services.
Samsung has announced that, starting October the last 1 week, it will support Samsung Wallet cross-border transfers in USDC, initially targeting eligible Galaxy users in the US and covering approximately 82000000 devices. Users can transfer stablecoins to compatible crypto wallets within seconds USD without paying transfer fees; they can also remit funds to eligible bank accounts in 60 countries and regions.
The service will use Solana and the Sui network as its underlying infrastructure, with licensed stablecoin custodian Bastion providing transfer services and Coinbase Prime serving as the secondary custodian responsible for safeguarding USDC assets.
Samsung and Solana have been preparing the relevant cooperation for several years. The two parties will roll out the product in phases, prioritizing user adoption, and may expand it in the future to online and offline stablecoin payment scenarios.
Original link https://m.theblockbeats.info/flash/372326
Key points
01
According to BlockBeats, a relevant official from the Solana Foundation stated that the US “GENIUS Act” provides regulatory impetus for companies and financial institutions to enter the stablecoin sector and is also one of the important background factors behind Samsung’s launch of stablecoin payment services.
02
The article states that Samsung has announced it will begin supporting October the last 1 week, in Samsung Wallet cross-border transfers in USDC.
03
The initial service will target eligible US Galaxy users; the article states that it will cover approximately 82000000 devices.
04
The article states that users can transfer USD stablecoins to compatible crypto wallets within seconds without paying transfer fees, and can also remit funds to 60 eligible bank accounts in multiple countries and regions.
05
The article states that the service will use the Solana and Sui networks, with Bastion providing transfer services and Coinbase Prime serving as the secondary custodian.
06
The article states that Samsung and Solana have been preparing the relevant cooperation for several years, will roll out the product in phases, and may expand it in the future to online and offline stablecoin payment scenarios.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This report describes adding a USDC cross-border transfer gateway to Samsung Wallet. Eligible US Galaxy users are reportedly able to transfer funds to compatible crypto wallets or eligible bank accounts in certain countries and regions; Solana and Sui are described as the underlying networks, while Bastion and Coinbase Prime respectively handle transfer services and secondary-custody-related roles.
Why it matters to readers
If the service described in the article becomes available as planned,USDC it may provide a new transfer gateway for a large number of Galaxy devices, while Solana and Sui may carry related activity. However, the original article only states the device coverage scale and does not provide actual user numbers or transaction volume.
Beginners should distinguish between “covering approximately 82000000 devices” and “having 82000000 users.” They should also wait for an official announcement confirming eligibility requirements, supported regions, fee rules, and actual launch status before deciding whether to use the service.
Risks and unknowns
The evidence consists only of the BlockBeats report and its original link, with no official announcement from Samsung or Samsung Wallet.
Approximately 82000000 devices is the coverage scope and does not represent actual user numbers or transaction volume.
The specific eligibility requirements for “eligible” users are not stated.
The scope, duration, and any other potential fees applicable to transfers without transfer fees are not stated.
Related Developments
Loading event timeline…
60 The specific list of countries and regions is not provided.
Bastion、Coinbase Prime, Solana, and Sui have each confirmed the relevant arrangements is not stated in the evidence.
Future expansion to online and offline payments is described only as a possibility and has not been confirmed.
“October Finally 1 week” does not specify a year in the body text.
Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
