Samsung is partnering with Coinbase
$2.69B
to make digital currencies more accessible on Galaxy smartphones.
The rollout begins in the United States, where about 75 million people will get access to Coinbase One through Samsung Wallet.
According to a blog post published on October 3, Coinbase One normally costs $4.99 a month for the basic plan or $29.99 for the premium plan. For Galaxy users, it will be free.
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The service includes zero trading fees, higher staking rewards, and enhanced security for accounts affected by unauthorized activity.
The option to buy coins directly with Samsung Pay is also being added. That means Galaxy owners in the US can handle crypto transactions through the same app they already use for everyday payments.
Samsung Wallet has evolved since it started as Samsung Pay in 2015. In 2022, it was reintroduced with more features, including support for storing and using crypto.
By the end of July, the wallet could also be used as a payment and deposit method inside Coinbase. Alongside trading, Samsung Wallet supports peer-to-peer transfers, installment payments, and digital identity services.
Shan Aggarwal, Coinbase’s chief business officer, said:
Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto.
John D’Agostino, Head of Institutional Strategy at Coinbase, stated that cryptocurrencies will play a crucial role in how artificial intelligence (AI) operates in the finance industry. How? Read the full story.
