Samsung is bringing stablecoins to 800 million phones in a massive crypto bet

“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 it follows through, over 800 million would potentially have access to Galaxy’s stablecoin features and other crypto without requiring a separate crypto app or exchange account. Already, there are over one billion active Samsung smartphones worldwide.

Stablecoins and infrastructure

During its Q2 earnings call last week, Samsung SDS CEO Lee Jun-hee said that the company’s stake in crypto exchange Upbit operator Dunamu is a strategic investment to enter the digital asset infrastructure business, including stablecoins and AI-powered payments.

Three Samsung affiliates agreed in May to acquire a 4% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit, for $408 million. Samsung Securities, Samsung SDS and Samsung Card are the affiliates involved in the deal.

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

Goh said he believes Samsung is aiming 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.”