The consumer electronics giant Samsung has broadened its collaboration with cryptocurrency platform Coinbase, allowing Galaxy smartphone users to purchase crypto directly through the Samsung Wallet.
Initially, around 75 million Galaxy users in the United States will be able to access Coinbase One, a subscription that features zero trading fees, enhanced staking rewards, and protections against unauthorized fund access, as Coinbase announced on Friday.
“By partnering with Samsung, we are combining their global reach with Coinbase’s trusted platform to provide incredible value for those wanting to access crypto—beginning with over 75 million Galaxy users in the U.S. and soon globally,” stated Shan Aggarwal, chief business officer at Coinbase.
The companies intend to further expand access to a larger audience of Galaxy smartphone users worldwide, potentially introducing a substantial number of new mainstream investors to the crypto market, given the over one billion active global Galaxy users.
As of September, Samsung comprised approximately 13% of the world’s 7.4 billion smartphone users, according to BankMyCell.
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Coinbase CEO states Samsung Wallet partnership will enhance crypto accessibility
This new partnership will allow Galaxy smartphone users in the U.S. to purchase crypto via Samsung Wallet, as well as provide free access to Coinbase One, which costs $4.99 monthly for the basic version and $29.99 for the premium one.
The partnership will “make crypto even more accessible,” expressed Coinbase co-founder and CEO Brian Armstrong in a Friday X post.
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Launched by Samsung Electronics, Samsung Wallet is an evolution of Samsung Pay, initially launched in 2015 and later integrated with numerous crypto wallet features, rebranding as the Samsung Wallet mobile app in June 2022.
Samsung Wallet was first introduced as a payment method and deposit option for crypto traders on Coinbase at the end of July.
The partnership with Coinbase signifies Samsung’s commitment to enabling users to “explore and engage with crypto on a trusted platform” from their mobile devices, remarked Drew Blackard, senior vice president of mobile product management at Samsung Electronics America.
Users of the Samsung Wallet app can perform mobile crypto transactions, make installment payments, conduct peer-to-peer transactions, and access digital identity services.
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