Samsung & Coinbase Partner to Bring Crypto to Galaxy Phones

The expanded partnership between consumer electronics giant Samsung and cryptocurrency exchange Coinbase represents a strategic push to bring digital assets to mainstream smartphone users. The integration allows Galaxy smartphone owners to buy cryptocurrency directly through the native Samsung Wallet application, eliminating the need for separate crypto exchange apps. This seamless integration marks a significant step in making cryptocurrency more accessible to everyday consumers through devices they already own and use regularly.

Shan Aggarwal, chief business officer at Coinbase, emphasized the strategic importance of the collaboration, stating, “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.” The partnership leverages Samsung’s massive user base while utilizing Coinbase’s established infrastructure and regulatory compliance framework.

A key component of the partnership involves providing 75 million US Galaxy smartphone users with free access to Coinbase One, a subscription service that typically costs $4.99 per month for the basic version and $29.99 for premium. This represents substantial value for users, as Coinbase One offers zero staking fees, high staking rewards, and comprehensive account protection to secure funds and accounts from unauthorized access. The complimentary access serves as an onboarding incentive to attract new users to the cryptocurrency ecosystem.

Coinbase CEO and co-founder Brian Armstrong expressed enthusiasm about the partnership’s potential to democratize crypto access. “Excited to be partnering with Samsung to make crypto even more accessible. We’re offering 75M+ Samsung Galaxy users in the U.S. free access to Coinbase One to bring them on board,” Armstrong stated. The integration also includes full Samsung Pay functionality, enabling all Coinbase users in the United States to utilize Samsung’s payment infrastructure for cryptocurrency purchases.

Samsung Wallet represents the evolution of Samsung Pay, which was initially introduced in 2015. The platform underwent significant transformation in June 2022 when it rebranded from Samsung Pay to Samsung Wallet and integrated comprehensive cryptocurrency wallet features. This strategic pivot positioned Samsung to capitalize on the growing intersection between traditional finance and digital assets, creating a unified platform for both conventional and cryptocurrency transactions.

The application now serves as a multifunctional tool that enables users to execute mobile transactions, make payments, complete peer-to-peer transactions, and access digital identity services. The partnership with Coinbase highlights Samsung’s commitment to allowing its users to explore and engage with cryptocurrency on a secure, trusted platform directly from their mobile devices. The integration first appeared as a payment method and deposit option for cryptocurrency traders at the end of July, setting the stage for the current expanded partnership.

While the initial rollout focuses on the 75 million Galaxy smartphone users in the United States, the partnership is designed for global expansion. With over one billion Galaxy smartphone users worldwide, the potential market reach represents one of the largest cryptocurrency adoption initiatives to date. The global rollout could bring a substantial influx of new investors into the cryptocurrency market, potentially impacting trading volumes and market dynamics for major cryptocurrencies including BTC and ETH.

The collaboration between Samsung and Coinbase signals a growing trend of traditional technology companies embracing cryptocurrency and blockchain technology. By integrating crypto services directly into widely-used smartphone platforms, companies like Samsung are lowering barriers to entry and making digital assets more accessible to the general public. This partnership could set a precedent for other smartphone manufacturers and technology companies looking to incorporate cryptocurrency services into their ecosystems.