On October 8, Coinbase announced that, starting in the last week of October 2026, USDC will automatically become the default option when U.S. users add stablecoin balances to Samsung Wallet. Samsung Wallet comes preinstalled on Galaxy devices. According to the announcement, around 82 million compatible devices in the United States will be eligible when the feature launches.

In July, Samsung first said its wallet would support stablecoins, without naming an issuer or providing a launch date. Three months later, the initial partner and default stablecoin have finally been confirmed. How much balance this new entry point can attract—and how the resulting economics will be shared—remain undisclosed.

Where can USDC go?

Based on the information released so far, USDC in Samsung Wallet will initially have two destinations: compatible external crypto wallets, or overseas bank accounts where recipients receive funds in local currency.

The underlying service is provided by Bastion, a U.S. stablecoin infrastructure provider, while the relevant USDC is custodied by Coinbase Prime. Bastion’s developer documentation says its withdrawal service supports bank accounts in more than 60 countries. Account holders must be U.S. residents, and customers in New York State currently cannot withdraw to bank accounts. These are limitations of Bastion’s own product. Samsung has not yet fully disclosed Samsung Wallet’s specific availability, fees, or settlement times.

In a written response in August, Samsung said it would begin rolling out stablecoin accounts, cross-border remittances, and payment features in selected countries within the year.

Circulation is down, but transaction volume is up

Coinbase reported that USDC circulation grew 72% in 2025, reaching more than $75 billion.

In the second quarter of 2026, USDC circulation fell from approximately $77 billion at the end of the first quarter to $73.3 billion, a decline of about 4.8%. Meanwhile, USDC’s adjusted transaction volume in June was around $1.21 trillion, representing approximately 67% of adjusted stablecoin transaction volume.

Circulation is retreating, but onchain transactions remain active. For USDC, the new question is whether it can move beyond exchanges and DeFi into more everyday money flows. Samsung Wallet offers a test: users could initiate stablecoin transfers directly from a phone wallet without first using a standalone crypto wallet.

Distribution costs approach 60%

Stablecoins themselves do not pay interest to holders. Around 95% of USDC issuer Circle’s revenue comes from returns on reserve assets.

In the second quarter, Circle reported $701 million in total revenue and reserve income, alongside $412 million in distribution, transaction, and other costs—59% of the total. For full-year 2025, these costs were approximately $1.4 billion, or about 51%. Not all of this spending goes to channel partners as revenue sharing, but distribution payments make up a major portion.

Coinbase is Circle’s largest distribution partner. On August 18, the two companies renewed their agreement for three years, through 2029, with unchanged terms.

USDC in Samsung Wallet is custodied by Coinbase Prime. Coinbase’s announcement did not specify whether these balances fall under the companies’ existing distribution arrangements or whether Samsung will receive a share.

Who benefits from the new entry point?

Samsung brings a new distribution channel on mobile devices. Coinbase gains a custody and partnership opportunity, while Circle could use the arrangement to bring USDC into more cross-border transfer scenarios.

But 82 million compatible devices do not mean 82 million stablecoin users. The channel’s commercial value will depend on how many people open accounts, actually make transfers, and leave balances in their wallets after launch.

If Samsung Wallet drives sustained growth in USDC balances, the next question will not just be how to acquire users, but how to distribute the commercial value generated by those balances. The terms of the partnership, which the companies have not disclosed, will then become crucial.