USDC

Solana

<h3 id="strong-key-facts-strong">Key Facts</h3>
<ul>
 <li>Samsung Wallet’s Stablecoin Account went live Thursday for eligible US Galaxy users, letting them hold USDC on Solana and send it to bank accounts in more than 60 countries, Samsung and the Solana Foundation said.</li>
 <li>The account is custodied by Bastion, with Coinbase as sub-custodian through its Prime Vault, and reaches about 82 million compatible US Galaxy devices.</li>
 <li>New users get $25 in USDC for a first top-up of $50 or more, though credit card top-ups carry a 4% fee and New York residents are excluded.</li>
</ul>
Samsung Wallet’s new Stablecoin Account went live Thursday for eligible US Galaxy users, letting them hold USDC (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/usd-coin/">USDC</a>) on Solana (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/solana/">SOL</a>) and send it to bank accounts in more than 60 countries, Samsung and the Solana Foundation <a target="_blank" rel="noopener noreferrer nofollow" href="https://solanacompass.com/news/samsung-wallet-usdc-accounts-go-live-on-solana-for-us-galaxy-users">said</a>.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/e9663a0c343d4f078d5b4409b8a050fa.png">
The launch follows<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/samsung-wallet-adds-solana-usdc-transfers-on-82m-galaxy-devices"> Samsung’s October announcement of the Solana partnership</a> and extends the<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/stablecoin"> stablecoin</a> feature to Samsung’s full eligible US base of about 82 million compatible Galaxy devices.
<h3 id="strong-bastion-and-coinbase-custody-the-new-account-strong">Bastion and Coinbase Custody the New Account</h3>
Bastion, a licensed stablecoin<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/custodian"> custodian</a>, holds the funds, and Coinbase acts as its sub-custodian through Coinbase Prime Vault,<a target="_blank" rel="noopener noreferrer nofollow" href="https://menafn.com/1111777517/Bastion-Selected-As-One-Of-Samsung-Wallets-Stablecoin-Partners-Providing-Regulated-Infrastructure-Custody-And-Cross-Border-Remittances"> </a>Bastion <a target="_blank" rel="noopener noreferrer nofollow" href="https://menafn.com/1111777517/Bastion-Selected-As-One-Of-Samsung-Wallets-Stablecoin-Partners-Providing-Regulated-Infrastructure-Custody-And-Cross-Border-Remittances">said</a> when the partnership was announced. Samsung charges no fee for transfers to other Samsung Wallet users or compatible external wallets, though bank payouts carry fees that vary by country and credit card top-ups cost 4%.
New users who make a first top-up of $50 or more receive $25 in USDC,<a target="_blank" rel="noopener noreferrer nofollow" href="https://decrypt.co/382586/stablecoins-samsung-wallet-adds-usdc-solana"> </a>Decrypt <a target="_blank" rel="noopener noreferrer nofollow" href="https://decrypt.co/382586/stablecoins-samsung-wallet-adds-usdc-solana">reported</a>. The<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/cross-border-trading"> cross-border</a> service is open to US residents 18 and older with a Samsung Account and a Galaxy device running Android 13 or later, excluding residents of New York.
“For a decade, stablecoins have proved the technology works,” Solana Foundation President Lily Liu <a target="_blank" rel="noopener noreferrer nofollow" href="https://solana.com/news/samsung-wallet">said</a> in the partnership announcement. “What they lacked was a way to reach the mainstream.”
Samsung’s Woncheol Chai, who leads the company’s digital wallet team, said the goal was to let Galaxy users move money “without having to navigate the complexity of traditional crypto tools.”
<h3 id="strong-usdc-s-footprint-on-solana-keeps-growing-strong">USDC’s Footprint on Solana Keeps Growing</h3>
USDC holder accounts on Solana passed 10 million on Oct. 31 and stood at about 10.07 million on Nov. 4, up from roughly 8.1 million in mid-August, according to Solana Compass data. That growth predates Thursday’s launch and does not yet reflect any Galaxy user activity.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/4eda74a7edd040f58b1031afc7d5acea.png">
The stablecoin’s reach on the network keeps expanding elsewhere as well: Kamino<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/kamino-usdc-loans-backpack-tokenized-stocks"> opened USDC loans against tokenized stocks</a> on Solana last month.
Samsung and the Solana Foundation also named Sui as a blockchain partner in October, but neither Thursday’s confirmations nor Decrypt’s launch-day report mention Sui, leaving its role in the live product unclear.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/36fdbbad51dd4a00b85621fa78cece7e.png">
SOL traded at $95.84 at the time of writing, up 4.1% over the past 24 hours, according to CoinMarketCap data.
Read More: <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/genius-act-one-year-anniversary-stablecoins">The GENIUS Act Turns One, but the Stablecoin Gold Rush Is Just Beginning</a>

Samsung Wallet USDC Accounts Go Live on Solana in US

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