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ReleaseStripe · Stablecoins1 min read

Samsung phone owners can now buy digital dollars in their wallet app

Samsung Galaxy owners in the US can buy USDC, a digital coin tied to the dollar, inside Samsung Wallet, with Stripe running the process behind the scenes.

By the Dashline deskSource: Small Business Trends
Samsung phone owners can now buy digital dollars in their wallet app
Photo: Unknown authorUnknown author, CC0

Samsung Wallet now lets Galaxy owners in the US buy USDC, a digital coin tied to the dollar, without leaving the app. Stripe, the payments company, powers the buying step through a feature called Crypto Onramp. An onramp is simply a way to turn regular money into crypto.

What it does

The feature is called the Samsung Wallet Stablecoin Account. It works with 82 million Galaxy devices in the US. Buyers can pay with Samsung Pay, credit and debit cards, or ACH transfer, which is a standard bank transfer. Stripe handles identity checks, compliance and fraud prevention, so Samsung and users do not have to.

What it means for businesses

More customers may soon hold stablecoins. That could matter to shops and online sellers who want to accept them. The coverage suggests a business working with Stripe could take stablecoin payments and offer a checkout that feels like any other.

There are catches. Crypto rules differ from place to place and keep changing. Setup may take time to learn, and customers may need help understanding what stablecoins are.

What is not known yet

The material does not say what fees buyers will pay or when every device will get access. It also gives no setup steps or costs for businesses that want to accept stablecoins. Those details are worth checking before making any plans.

The takeaway

Stablecoin buying is now built into Samsung Wallet, but fees and business setup details are not yet clear, so check them before acting.

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