Samsung Wallet will send USDC abroad with no Samsung fee from the last week of October. The World Bank's global average for sending $200 is $12.72.
It launches on 82 million compatible Galaxy devices in the US, for users who pass identity checks. Bastion handles custody and bank payouts, with Coinbase Prime Vault as sub-custodian. Solana and Sui provide the network support.
The $0 covers one route: USDC to a compatible crypto wallet, and the receiving wallet or exchange can still charge. Sending to a bank account in one of the 60+ countries, paid out in local currency, has fees that vary by country and amount. Samsung says the app shows them before you confirm. We couldn't find a published fee table.
By our math, a family sending $200 home every month pays about $153 a year at the World Bank's 6.36% average. At the 4.59% average for digital services it's about $110.
Free is the wallet route. The bank route, likely the one most families need, has no public price yet.
$USDC $SOL $SUI
#Stablecoins #Samsung
NFA. DYOR.
It launches on 82 million compatible Galaxy devices in the US, for users who pass identity checks. Bastion handles custody and bank payouts, with Coinbase Prime Vault as sub-custodian. Solana and Sui provide the network support.
The $0 covers one route: USDC to a compatible crypto wallet, and the receiving wallet or exchange can still charge. Sending to a bank account in one of the 60+ countries, paid out in local currency, has fees that vary by country and amount. Samsung says the app shows them before you confirm. We couldn't find a published fee table.
By our math, a family sending $200 home every month pays about $153 a year at the World Bank's 6.36% average. At the 4.59% average for digital services it's about $110.
Free is the wallet route. The bank route, likely the one most families need, has no public price yet.
$USDC $SOL $SUI
#Stablecoins #Samsung
NFA. DYOR.