"Samsung Wallet will expand beyond cash and savings. It will embrace New forms of digital value, including stablecoins," said Lee Dinham, Samsung's product manager, on stage, adding that the move would make the company one of the first major smartphone brands to offer native stablecoins.
“This will make Samsung one of the first major mobile brands to bring native stablecoins to a Smartphone, enabling fast and trusted digital value transfers,” Dinham said.
Samsung hasn't said whether the feature will be custodial, meaning Samsung or some other third party holds users' funds, or non-custodial, where users alone control the private keys that unlock their own money.
Samsung's long crypto résuméThe stablecoin plan landed alongside the Galaxy Card, Samsung's first credit card in the United States, issued by Barclays on the Visa network with 5% cash back on Samsung purchases and 3% on Samsung Wallet transactions. Visa's Kirk Stuart said the card reflects how "consumers expect payments to be embedded into the digital experiences they use every day." Samsung framed the wider effort as a "secured payments and rewards experience."
