Samsung Wallet's Stablecoin Account is live on Solana. Eligible Galaxy owners in the US can now hold USDC inside Samsung's own wallet app, send it to other wallets, and cash it out to bank accounts in more than 60 countries, The Block reported on 5 November 2026. The Block counts about 82 million compatible Galaxy devices in the US.
Samsung and the Solana Foundation announced the product on 7 October with a rollout planned for "the last week of October", Decrypt reported at the time. We covered the Samsung Wallet USDC announcement then. The Stablecoin Account switched on for users on Thursday 5 November, about a week after that window.
How the Stablecoin Account works: Bastion and Coinbase custody
The Samsung Wallet Stablecoin Account is a custodial dollar balance held in USDC, the stablecoin issued by Circle USDC$1.000-0.3%, on Solana. Bastion, a licensed stablecoin custodian and infrastructure provider, holds the funds, and Coinbase cbBTC$76,681.76-5.5% acts as Bastion's sub-custodian through Coinbase Prime Vault, according to The Block and Decrypt's launch report (syndicated on Yahoo Finance).
That makes the account closer to a balance in a payments app than to a self-custody crypto wallet, with a regulated custodian holding the USDC for the user. Samsung presents that simplicity as the point. "Stablecoins have the potential to make moving money around the world faster and easier, and we want Galaxy users to be able to take advantage of that without having to navigate the complexity of traditional crypto tools," said Woncheol Chai, executive vice president and head of Samsung's digital wallet team, in The Block's report.
Who can use the Samsung Wallet USDC account, per The Block:
- US residents aged 18 or older with a Samsung Account
- A compatible Galaxy device running Android 13 or later
- Residents of New York are excluded
USDC transfer fees and the 60-country bank payout list
Samsung charges no transfer fee when a user sends USDC to another Samsung Wallet user or to a compatible external crypto wallet, The Block reported. Payouts to bank accounts abroad carry fees that vary by destination, with conversion into local currency available across more than 60 countries. Neither The Block nor Decrypt published the full country list.
Getting dollars in costs more on some routes. Decrypt reported a 4% fee for topping up the account with a credit card, and fees on withdrawals to a bank account or debit card that it did not specify.
Why a Galaxy phone wallet matters for USDC on Solana
Samsung Wallet puts USDC on Solana inside Samsung's own wallet app on Galaxy phones, instead of asking users to install and learn a separate crypto wallet. The transfers settle on Solana whether or not those users know which network is underneath. Solana Foundation President Lily Liu framed the launch around that reach in The Block's report: "For a decade, stablecoins have proved the technology works. What they lacked was a way to reach the mainstream."
The token Samsung is distributing already has a large and growing footprint on the network. USDC holder accounts on Solana passed 10 million on 31 October 2026 and stood at about 10.07 million on 4 November, up from roughly 8.1 million on 10 August, according to Solana Compass token data. That growth came before Samsung's launch, so none of it reflects Galaxy users yet; the next few weeks of the same series are where any Samsung effect would first show.
USDC holder accounts on Solana rose from about 8.1 million on 10 August to more than 10 million by early November 2026, before the Samsung Wallet launch.
View on Solana Compass →For context on the wider stablecoin base the account plugs into, see our August look at Solana's stablecoin supply.
Solana and Sui: what changed since the October announcement
Sui was named alongside Solana when the product was announced in October. The Sui Foundation said at the time that Samsung Wallet supported USDC on Sui for eligible US Galaxy devices, with gasless transfers and no SUI token support, Blockhead reported on 9 October.
The launch-day reports from The Block and Decrypt describe the Stablecoin Account on Solana and do not mention Sui. We could not confirm from launch-day sources whether Sui transfers are also available in the live product.
What to watch next in Samsung's stablecoin rollout
Samsung said in October that more markets would follow the US launch "subject to local regulatory requirements", per Decrypt's announcement report, and Decrypt's launch report says Samsung plans online and in-store payments as later additions. Three things are worth checking as the rollout continues: whether New York residents are added, which countries make up the 60-plus payout list, and whether Samsung confirms the role Sui plays in the live account.
