Samsung Enhances Coinbase Collaboration for Direct Crypto Purchases via Galaxy Wallet
Samsung Wallet partners with Coinbase to facilitate direct cryptocurrency purchases for Galaxy users, expanding access across the globe.
Samsung Enhances Coinbase Collaboration for Direct Crypto Purchases via Galaxy Wallet
Consumer electronics powerhouse Samsung has expanded its collaboration with the cryptocurrency exchange Coinbase, enabling Galaxy smartphone users to purchase cryptocurrencies directly through the Samsung Wallet.
Initially, this will benefit approximately 75 million Galaxy users in the United States who will have access to Coinbase One, a subscription service that eliminates trading fees, enhances staking rewards, and offers protection against unauthorized access losses. Coinbase announced this development on Friday.
“Together with Samsung, we’re combining their global reach with Coinbase’s reliable platform to provide the best value for crypto access — beginning with over 75 million Galaxy users in the U.S., and soon extending globally,” said Shan Aggarwal, Chief Business Officer at Coinbase.
The partnership aims to broaden access to additional Galaxy smartphone users worldwide, potentially driving a substantial influx of mainstream investors into the cryptocurrency market, considering there are over one billion active Galaxy users globally.
Samsung partners with Coinbase. Source: Coinbase
Samsung comprised about 13% of the global smartphone user base of 7.4 billion as of September, according to BankMyCell.
Samsung Wallet partnership will make crypto “more accessible,” says Coinbase CEO
The new partnership will additionally allow U.S. Galaxy smartphone users to buy cryptocurrencies through Samsung Wallet, in addition to free access to Coinbase One, which has a monthly fee of $4.99 for the basic plan and $29.99 for the premium plan.
“This partnership will make crypto even more accessible,” commented Brian Armstrong, Co-founder and CEO of Coinbase, in a social media post on Friday.
Source: Brian Armstrong
Launched by Samsung Electronics, Samsung Wallet is an upgrade from Samsung Pay, which was first introduced in 2015. It integrated various crypto wallet features and was officially rebranded as the Samsung Wallet mobile app in June 2022.
The Samsung Wallet was rolled out initially as a payment method and deposit option for cryptocurrency traders on Coinbase at the end of July.
Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, stated that the partnership with Coinbase represents Samsung’s commitment to enabling users to explore and engage with cryptocurrencies through a reliable platform, right from their mobile devices.
With the Samsung Wallet, users will be able to execute cryptocurrency transactions, make installment payments, use peer-to-peer transactions, and access digital identity services.
