Solana Powers USDC Transfers on Samsung Wallet for U.S.…
By Tobi Opeyemi Amure
AI summary of the source article
Samsung Wallet has started rolling out Solana-based USDC transfers to eligible U.S. Galaxy users, covering around 82 million devices. The service enables cross-border money transfers and payouts to bank accounts in over 60 countries.
Why it matters
Woncheol Chai of Samsung Electronics said the company wants users to "move money abroad more quickly and easily without navigating the complexity of traditional cryptocurrency tools," while Solana Foundation President Lily Liu stated the partnership marks where stablecoins "stop being a crypto product and start being how people move money."
Key facts
- Samsung Wallet integrated USDC transfers on Solana for U.S. Galaxy users, with Bastion providing custody and Coinbase serving as sub-custodian.
- The feature allows transfers to other Samsung Wallets, external wallets, and bank accounts in more than 60 countries.
- Solana is the third-largest blockchain by stablecoin supply with about $14.915 billion, of which USDC represents approximately 47.5%.
Source excerpt · FinanceFeeds
Samsung Wallet began rolling out USDC transfers on Solana to U.S. Galaxy users on Thursday, November 5, allowing them to send money across borders from the same application that holds their payment cards, boarding passes and IDs, SolanaFloor reported. The rollout follows the Solana Foundation’s October 7 announcement that Samsung Wallet and Samsung Pay would support stablecoin transfers on Solana.…