The gateway is open, but that doesn’t mean buyers have arrived. On November 5, Samsung Wallet’s stablecoin account launched for eligible U.S. Galaxy users: they can buy, hold, receive, and send Circle USDC on Solana in the wallet, without installing another crypto app or managing their own private keys. The official figure is about 82 million compatible devices in the U.S.; users must have Android 13 or later and be at least 18. The service is unavailable in New York. Custody is handled by Bastion and Coinbase Prime Vault, while deposits are powered by Stripe.
The number of compatible devices isn’t the number of users who have activated the service. Users can transfer funds to other Samsung wallets or external wallets without a Samsung fee; credit card deposits cost about 4%. The opposing view may interpret a mobile entry point as new SOL buying demand or as proof that on-chain demand for USDC is taking off. Without attributable net inflows, it’s at most a distribution channel.
If attributable net USDC inflows and active transfers on Solana don’t pick up over the next few weeks, or if the feature is rolled back or becomes widely unavailable, treat this wave as a warm-up for the gateway. Snapshot at around 08:02 Beijing time: Binance SOL at about $89.73, down about 6.0% over 24 hours.
$SOL
#SOL #SamsungWallet #Cryptocurrency
The number of compatible devices isn’t the number of users who have activated the service. Users can transfer funds to other Samsung wallets or external wallets without a Samsung fee; credit card deposits cost about 4%. The opposing view may interpret a mobile entry point as new SOL buying demand or as proof that on-chain demand for USDC is taking off. Without attributable net inflows, it’s at most a distribution channel.
If attributable net USDC inflows and active transfers on Solana don’t pick up over the next few weeks, or if the feature is rolled back or becomes widely unavailable, treat this wave as a warm-up for the gateway. Snapshot at around 08:02 Beijing time: Binance SOL at about $89.73, down about 6.0% over 24 hours.
$SOL
#SOL #SamsungWallet #Cryptocurrency
