Samsung has taken a significant step into the cryptocurrency market by announcing a strategic partnership with Coinbase. According to the company, approximately 75 million Galaxy device owners in the US will gain direct access to Coinbase One through Samsung Wallet integration.
This development is considered both Coinbase’s largest individual distribution to date and Samsung Galaxy’s most ambitious move into the crypto ecosystem.
With the new integration, Galaxy users will be able to trade without fees and benefit from increased staking rewards within Coinbase One. This allows users to experience cryptocurrency directly without downloading additional apps or moving their assets between platforms.
Additionally, Samsung Pay will be linked to Coinbase accounts, allowing Galaxy owners to make payments tied to their crypto assets. Users will also be able to access their crypto assets through payment cards, public transportation tickets, and the wallet where they store their ID.
“Our mission is to bring over a billion people to blockchain. And the way we do that is by meeting them where they are: on their phones,” said Shan Aggarwal, Head of Business Development at Coinbase.
Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, emphasized that Samsung Wallet is a trusted tool for millions of users, so they constantly focus on improving the experience with new functions.
While the first phase of the program has begun in the United States, the two companies plan to expand into international markets soon.
*This is not investment advice.