Samsung Pay will be added as a payment option on Coinbase starting this week, as per an official news release by the electronics firm on Tuesday. The feature will first be rolled out to select users of the platform before eventually being made available to all users in Canada and North America.
The integration will be used as a payment method and a deposit option for the largest cryptocurrency exchange in the U.S., a feature addition that stems from a partnership between the two companies.
The initiative is part of a larger rollout of Samsung Wallet for Coinbase users, which will include Samsung Pay and Samsung Pass—a comprehensive application that handles mobile-based payments and transactions, P2P payments, and cryptocurrency.
“As we continue to expand the scope of services of Samsung Wallet, we’re staying true to our core belief that open collaboration with industry leaders will provide the best experiences for our users,” said SVP Drew Blackard.
“This partnership with Coinbase will allow our users additional access to explore and engage with crypto on a trusted platform all from the convenience of their mobile device.” he also added.
Coinbase posted about the new feature on X through its official account.
“Selling your fiat just got easier. Simply buy crypto or fund your account with @Samsung Pay on Coinbase. Rolling out this week, starting in North America,” read the X post.
Source: Google Finance
Samsung’s $16.5 billion AI chip deal
The update comes just a day after the electronics company announced a $16.5 billion manufacturing deal for artificial intelligence chips with an undisclosed company, which has been linked to Tesla.
Elon Musk confirmed a trade deal with the electronics company on the same day through an X post.