Samsung’s recent announcement that it is adding stablecoin support to 800 million new smartphones could position the tech giant to become a major stablecoin distributor, experts told CoinDesk.
This is not Samsung's first venture into cryptocurrencies. Samsung, the largest company in South Korea, has been actively involved in the crypto industry for several years, having introduced its digital asset wallet in 2019 through Knox, a hardware-isolated vault with fingerprint or PIN access. The wallet allows users to store and manage crypto including bitcoin, ether and tron, and supports connecting external hardware wallets like Ledger's Nano S and Nano X directly to a Galaxy device. Samsung is now arguing that it can make payments easier, using a type of cryptocurrency with a consistent value.
“Due to this strategic move, Samsung will emerge as a dominant distributor of stablecoins such as USDC,” said Joseph Goh, director and head of Asia Pacific at crypto investment banking and advisory firm Areta, in chat messages with CoinDesk. He said one of the most significant issues holding back greater adoption is reaching potential new users. “Distribution is the scarce asset here, and Samsung owns a great deal of it.”
Ben Nadareski, CEO and co-founder of Solstice, said he views this as a positive development for crypto adoption and agreed with Goh that it puts Samsung in a unique position.
“The broader picture is distribution catching up to liquidity,” said Nadareski in a Telegram conversation. “For years, crypto had deep venues in places like South Korea and weak paths into daily spend. Samsung Wallet points the other way: stablecoins inside a hub people open for cards and checkout.”
Samsung outlined its Samsung Wallet expansion plans during its Galaxy Unpacked 2026 event, saying over 800 million smartphones would have stablecoin features by default, including fiat-pegged savings and payments accounts. The company did not lay out its projections for user uptake, or say how many users were already using its crypto features.
Lee Dinham, smartphone specialist product manager, said Samsung would embrace new forms of digital value, including stablecoins. He said the Samsung Wallet already has nearly 19 million users in South Korea alone and is available in 61 countries. However, he did not go into detail regarding actual crypto users within the Samsung ecosystem..
"This will make Samsung one of the first major mobile phone brands to offer native stablecoins on smartphones, enabling fast and reliable transfer of digital value," Dinham said during the event.
“By doing so, Samsung Wallet becomes the foundation for an interconnected financial ecosystem across Galaxy devices and services — where it combines payments, rewards, and digital assets into a single unified experience," he said.
If it follows through, over 800 million would potentially have access to Galaxy’s stablecoin features and other crypto without requiring a separate crypto app or exchange account. Already, there are over one billion active Samsung smartphones worldwide.
During its Q2 earnings call last week, Samsung SDS CEO Lee Jun-hee said that the company’s stake in crypto exchange Upbit operator Dunamu is a strategic investment to enter the digital asset infrastructure business, including stablecoins and AI-powered payments.
Three Samsung affiliates agreed in May to acquire a 4% stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit, for $408 million. Samsung Securities, Samsung SDS and Samsung Card are the affiliates involved in the deal.
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