Samsung Electronics integrated Stripe's cryptocurrency payment infrastructure into Samsung Wallet, enabling US Galaxy users to purchase the dollar-pegged stablecoin USDC using Samsung Pay, credit cards, and bank accounts. Stripe announced on November 5 (local time) that its Crypto Onramp service was introduced to Samsung Wallet's new stablecoin account, allowing users to buy USDC through existing payment methods including credit and debit cards and ACH bank transfers. The integration expands Samsung Wallet's cryptocurrency capabilities following the company's October announcement of USDC remittance features for US users, with Stripe handling identity verification, regulatory compliance, and fraud prevention during the purchase process.
Stripe Announces Crypto Onramp Integration with Samsung Wallet
According to Stripe's announcement on November 5 (local time), the company's Crypto Onramp was introduced to Samsung Wallet's new stablecoin account. Crypto Onramp is a service that supports users in purchasing cryptocurrency using existing payment methods. Through this integration, Samsung Wallet stablecoin account users in the US can purchase USDC through Samsung Pay, credit and debit cards, and ACH (Automated Clearing House) bank transfers. Stripe is responsible for user identity verification, regulatory compliance, and fraud prevention functions during the USDC purchase process. Stripe stated that companies using its Crypto Onramp can now use Samsung Pay as a payment method.
Service Targets 82 Million Compatible Galaxy Devices in US
The service targets approximately 82 million Galaxy devices compatible with Samsung Wallet in the US. However, actual use requires meeting eligibility requirements including residential area, age, and device specifications. Samsung Wallet's stablecoin account supports USDC holdings, remittances, and fund transfers to overseas bank accounts. The service is limited to qualified users within the US, and the domestic launch status and schedule have not been disclosed.
Samsung Announced USDC Remittance Feature in October
Samsung Electronics announced in October that it would introduce USDC remittance functionality to Samsung Wallet for US Galaxy users. Bastion handles asset custody and remittance infrastructure, while Coinbase provides institutional custody services. This Stripe announcement is significant in that it officially confirmed the payment infrastructure and service provision status applied to Samsung Wallet's USDC purchase function.
FAQ
What payment methods can US Samsung Wallet users use to purchase USDC?
US Samsung Wallet users can purchase USDC using Samsung Pay, credit and debit cards, and ACH bank transfers through Stripe's Crypto Onramp integration announced on November 5 (local time).
How many Galaxy devices are eligible for the Samsung Wallet USDC service?
The service targets approximately 82 million Galaxy devices compatible with Samsung Wallet in the US, though actual use requires meeting eligibility requirements including residential area, age, and device specifications.
Which companies provide infrastructure for Samsung Wallet's stablecoin account?
Stripe provides the Crypto Onramp payment infrastructure and handles identity verification, regulatory compliance, and fraud prevention. Bastion handles asset custody and remittance infrastructure, while Coinbase provides institutional custody services.
