According to ME News, on August 5 (UTC+8), Joseph Goh, Head of Asia-Pacific at crypto investment bank Areta, stated that distribution channels are the true scarce resource, and Samsung’s extensive distribution network will give it a competitive advantage in stablecoin distribution. Goh further noted that the wallet announcement secures these distribution channels, with SDS and Dunamu providing the underlying infrastructure; Samsung aims to simultaneously deploy USD and KRW stablecoins. Previously, Samsung announced it would integrate native stablecoin functionality into Samsung Wallet for over 800 million Galaxy smartphones, including fiat-backed savings and payment accounts. Samsung Wallet currently has nearly 19 million users in South Korea and operates in 61 countries. (Source: ODAILY)
Samsung Aims to Become a Major Stablecoin Distributor Through Galaxy Phones
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Summary
Samsung has announced a project to expand stablecoin distribution through Galaxy smartphones, aiming to become a major player in the space. The company has secured partnerships with SDS and Dunamu to build the supporting infrastructure. Samsung Wallet will feature native stablecoin functionality, supporting USD and KRW, with savings and payment capabilities. The wallet already has 19 million users in South Korea and is available in 61 countries. This partnership announcement marks a key step in Samsung’s broader initiative to integrate crypto into its ecosystem.
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