Consumer electronics giant Samsung has broadened its partnership with cryptocurrency exchange Coinbase, enabling Galaxy smartphone users to purchase crypto directly through Samsung Wallet.
In the first phase, approximately 75 million Galaxy users in the United States will gain access to Coinbase One, a subscription service offering zero trading fees, higher staking rewards, and account protection against unauthorized access, Coinbase announced Friday.
Shan Aggarwal, chief business officer at Coinbase, said: Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto starting with more than 75 million Galaxy users across the U.S., and soon around the world.
Global rollout and mainstream adoption
The partnership aims to expand access to Galaxy smartphone users worldwide, potentially introducing a significant number of mainstream investors to the crypto market. Samsung accounts for roughly 13% of the world’s 7.4 billion smartphone users, according to BankMyCell.
Making crypto more accessible
Through the collaboration, US Galaxy users can purchase crypto via Samsung Wallet and receive free access to Coinbase One, which is normally priced at $4.99 per month for the basic version and $29.99 per month for the premium version.
Coinbase co-founder and CEO Brian Armstrong highlighted the partnership’s accessibility benefits on X, stating that it will “make crypto even more accessible.”
Launched by Samsung Electronics, Samsung Wallet is an evolution of Samsung Pay, integrating crypto wallet features and rebranding as Samsung Wallet in June 2022. The platform allows users to execute mobile crypto transactions, installment payments, peer-to-peer transfers, and access digital identity services. Drew Blackard, senior vice president of mobile product management at Samsung Electronics America, emphasized the company’s commitment to enabling users to “explore and engage with crypto on a trusted platform” directly from their phones.