Samsung plans USDC transfers in Wallet in late October

Samsung plans to add USDC transfers to Samsung Wallet for eligible Galaxy devices in the United States during the last week of October, the company said in an October 7 announcement. Samsung cited 82 million compatible devices, a figure that counts devices rather than users or expected adopters. The service is intended to let customers send USDC, a dollar-pegged stablecoin, to compatible crypto wallets without a Samsung transfer fee, or transfer funds to bank accounts in more than 60 countries. Bank-account recipients would receive local currency. Samsung said fees for those transfers may vary by destination; it has not published a complete list of supported countries or detailed bank-transfer fees in the supplied announcement. USDC will be the first stablecoin supported. Samsung says eligible users will be able to access transfers in its wallet without installing a separate cryptocurrency app. The company’s announcement describes Bastion as the operator of the accounts and provider of payment infrastructure, with Coinbase as subcustodian. The USDC will be safeguarded in Coinbase Prime Vault, according to the announcement’s description in reports.