- The integration is already live, and Galaxy users in the US can purchase crypto using Samsung Wallet under the Coinbase framework.
- The initial rollout affects around 75 million Galaxy users in the US, with plans to expand globally over time.
- This marks one of Coinbase’s largest user acquisition campaigns to date, to make its services a core part of the everyday mobile experience.
Coinbase and Samsung have announced an expansion of their partnership (the initial partnership announcement was in July). For US Galaxy smartphone users, Samsung Wallet now offers direct access to Coinbase One (Coinbase’s premium subscription with perks).
The integration is already live, and Galaxy users in the US can purchase crypto using Samsung Pay directly within Samsung Wallet under the Coinbase framework. The initial rollout benefits around 75 million Galaxy users in the US, with plans to expand globally over time.
As per the press release, Samsung users will receive a free three-month subscription to Coinbase One, which includes zero trading fees (within certain limits), boosted staking rewards, priority support, and more. Additionally, users can claim a $25 USDC credit after making their first trade via the integration.
This marks one of Coinbase’s largest user acquisition campaigns to date, as the company aims to make its services a core part of the everyday mobile experience. Security is also a core part of the integration, since the partnership uses Samsung Wallet’s built-in phone security (such as fingerprint scanning and its Knox protection system) to keep users’ crypto and payments safe.
Related: Google Partners with Coinbase to Enable Crypto Payments via New AI System
At the end of July, Coinbase integrated Samsung Pay into its crypto purchase flows for US and Canada users, making it easier to fund accounts via Samsung’s trusted payment infrastructure.
Coinbase’s Expansion
Brian Armstrong, the CEO of Coinbase, was always open about the company expanding into different markets, with several months ago saying that the platform is “becoming the everything exchange”.
Armstrong believes that all assets will eventually migrate to blockchain networks, and Coinbase’s goal is to provide a single, unified venue for trading.
Related: Coinbase Integrates Samsung Pay for Crypto Purchases in US and Canada
In late September, he talked about Coinbase becoming a “super app” with the goal of providing all types of financial services, effectively replacing banks.
Some of those plans include integrating decentralized exchanges, expanding derivatives offerings, and adding more assets like equities.
Several of the more notable recent Coinbase partnerships or collaborations include:
- Integration of the decentralized lending protocol Morpho last month
- Partnership with Squads to deepen USDC usage on Solana in August
- Expanded collaboration with PayPal to include support for the PYUSD stablecoin in April
- Acquisition of Deribit (a major derivatives exchange) for about $2.9 billion, announced in May
This expanded Samsung partnership could very well accelerate mainstream adoption and position Coinbase at the center of crypto’s next wave of global growth.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/samsung-deepens-coinbase-tie-unlocks-zero-fee-crypto-trading-for-galaxy-users/
