Samsung is poised to become a dominant stablecoin distributor, analysts say

Samsung is preparing to add native stablecoin features, including fiat-pegged savings and payments accounts, to 800 million new Galaxy smartphones through Samsung Wallet, a move that could make the company a major distributor of tokens such as USDC.

The plan builds on Samsung’s existing crypto wallet infrastructure and its nearly 19 million Samsung Wallet users in South Korea, while extending its payments, rewards and digital asset services across 61 countries. If widely adopted, the feature set could bring stablecoins into a mainstream phone experience rather than requiring users to find a separate app or exchange account.

Samsung’s $408 million stake in Upbit operator Dunamu, along with its broader push into digital asset infrastructure, points to a wider strategy that could support both dollar- and won-denominated stablecoins as South Korea advances its Digital Asset Basic Act.

Samsung’s recent announcement that it is adding stablecoin support to 800 million new smartphones could position the tech giant to become a major stablecoin distributor, experts told CoinDesk.

This is not Samsung’s first step into crypto. The South Korean conglomerate has been active in the sector for several years, first introducing its digital asset wallet in 2019 through Knox, a hardware-isolated vault protected by fingerprint or PIN access. The wallet lets users store and manage cryptocurrencies including bitcoin, ether and tron, and also supports external hardware wallets such as Ledger’s Nano S and Nano X when connected directly to a Galaxy device. Samsung is now arguing that it can make payments easier by using a cryptocurrency designed to maintain a consistent value.

“Due to this strategic move, Samsung will emerge as a dominant distributor of stablecoins such as USDC,” said Joseph Goh, director and head of Asia Pacific at crypto investment banking and advisory firm Areta, in messages with CoinDesk. Goh said one of the biggest barriers to broader adoption is reaching new users. “Distribution is the scarce asset here, and Samsung owns a great deal of it.”

Ben Nadareski, CEO and co-founder of Solstice, said he sees the move as positive for crypto adoption and agreed with Goh that it places Samsung in a unique position.

“The broader picture is distribution catching up to liquidity,” Nadareski said in a Telegram conversation. “For years, crypto had deep venues in places like South Korea and weak paths into daily spend. Samsung Wallet points the other way: stablecoins inside a hub people open for cards and checkout.”

Samsung outlined the Wallet expansion during its Galaxy Unpacked 2026 event, saying that more than 800 million smartphones would have stablecoin features by default, including fiat-pegged savings and payments accounts. The company did not provide projections for user adoption or say how many users were already using its crypto features.

Lee Dinham, smartphone specialist product manager, said Samsung would embrace new forms of digital value, including stablecoins. He said Samsung Wallet already has nearly 19 million users in South Korea alone and is available in 61 countries, although he did not provide details on how many of those users actively use crypto within Samsung’s ecosystem.

“This will make Samsung one of the first major mobile phone brands to offer native stablecoins on smartphones, enabling fast and reliable transfer of digital value,” Dinham said during the event.

“By doing so, Samsung Wallet becomes the foundation for an interconnected financial ecosystem across Galaxy devices and services — where it combines payments, rewards, and digital assets into a single unified experience,” he said.

If Samsung follows through, more than 800 million users could potentially access Galaxy’s stablecoin features and other crypto functions without needing a separate crypto app or exchange account. Samsung already has more than one billion active smartphones worldwide.

Stablecoins and infrastructure

During its second-quarter earnings call last week, Samsung SDS CEO Lee Jun-hee said the company’s stake in Dunamu, the operator of crypto exchange Upbit, is a strategic investment intended to expand into digital asset infrastructure, including stablecoins and AI-powered payments.

In May, three Samsung affiliates agreed to acquire a 4% stake in Dunamu for $408 million. The affiliates involved are Samsung Securities, Samsung SDS and Samsung Card.

“This is the other half of the same strategy, and from a deal perspective, it is the more telling half,” Goh said. “The wallet announcement secured distribution; SDS and Dunamu will secure the infrastructure beneath it.”

Goh said he believes Samsung wants to build the infrastructure itself rather than rely on a third-party provider. “Their goal is to be positioned in both dollar and won stablecoins while Korea’s framework is still being discussed. The timing is deliberate.”

South Korea unveiled a draft of the Digital Asset Basic Act in April, laying out a framework for digital assets including trading, custody, supervision and stablecoin issuance. However, there is still no deadline for approval of the act or for implementation of new crypto rules.

Robby Yung, CEO of Investments at Animoca Brands, said the development is positive for crypto and adoption, adding that greater distribution of cryptocurrencies is beneficial.

“As we know, distribution has always been a major challenge for digital assets, given the closed nature of mobile ecosystems,” Yung said. He said he is not sure the move gives Samsung an advantage over crypto-native platforms, but “overall, I think this is great news for the sector.”

Yat Siu, executive chairman of Animoca Brands, said he sees Samsung’s move as a feature set rather than an attempt to build a super app. He said the integration could give Samsung an edge over Apple and Google in serving crypto users, but applications and merchants will still need to make stablecoins useful for everyday spending. Samsung is an investor in Animoca Brands.