Coinbase officially announced that the USDC will be set as the default stablecoin option in the US Samsung Wallet, supporting transfers and cross-border remittances.

Written by: Conflux

On October 8, Coinbase announced that starting from the last week of October 2026, when US users recharge their stablecoin balance in the Samsung Wallet, USDC will automatically become the default option. The Samsung Wallet comes pre-installed on Galaxy devices. It has been disclosed that when this feature goes live, there will be around 82 million compatible devices in the US.

In July, Samsung first proposed that the wallet would support stablecoins, without specifying the issuer or providing a launch date. Three months later, the initial partner and default stablecoin have finally been clarified. The potential balance this entry can bring and how the revenue will be shared has not been made public yet.

Where can USDC be transferred

According to the currently disclosed information, the initial destinations for USDC in the Samsung Wallet are twofold: sending to compatible external crypto wallets or transferring to overseas bank accounts, with the recipient receiving the funds in local currency.

The underlying services are provided by US stablecoin infrastructure provider Bastion, and the related USDC is custodied by Coinbase Prime. Bastion's development documentation shows that its withdrawal services cover bank accounts in over 60 countries, and account holders must be American; customers from New York State are currently unable to withdraw to bank accounts. These are limitations of Bastion's own products, and Samsung has not fully disclosed the specific scope, fees, and processing times for the Samsung Wallet.

In August, Samsung stated in a written response that it would gradually launch stablecoin accounts, cross-border remittances, and payment features from certain countries within this year.

Declining circulation, increasing transaction volume

Coinbase disclosed that the circulation of USDC increased by 72% in 2025, reaching over $75 billion.

In the second quarter of 2026, the USDC circulation fell from about $77 billion at the end of the first quarter to $73.3 billion, a decrease of about 4.8%. In the same period, the adjusted transaction volume of USDC in June was approximately $1.21 trillion, accounting for about 67% of the adjusted transaction volume of stablecoins.

While circulation is declining, on-chain transactions remain active. For USDC, the new question is: besides exchanges and DeFi, can it enter more everyday cash flow scenarios? The Samsung Wallet provides a testing opportunity - allowing users to initiate stablecoin transfers directly from their mobile wallets without first using a separate crypto wallet.

Distribution costs nearing 60%

Stablecoins themselves do not pay interest to holders. The revenue of USDC issuer Circle comes from the earnings of reserve assets, approximately 95% of it.

In the second quarter, Circle's total revenue and reserve earnings amounted to $701 million, with distribution, transaction, and other costs totaling $412 million, accounting for 59%. For the entire year of 2025, this cost is estimated at approximately $1.4 billion, about 51%. This money does not all go to channel sharing, but distribution payments are a major part of it.

Coinbase is Circle's largest distribution partner. On August 18, the two parties renewed their agreement for three years, unchanged until 2029.

The USDC in the Samsung Wallet is custodied by Coinbase Prime. Whether this balance is subject to the existing distribution arrangements between the two parties and whether Samsung receives a share has not been specified in Coinbase’s announcement.

Who can benefit from the new entry

What Samsung provides is a new mobile distribution entry point. Coinbase gains custodial and collaborative opportunities, while Circle is expected to leverage this to push USDC into more cross-border transfer scenarios.

However, 82 million compatible devices do not equate to 82 million stablecoin users. After launch, how many people will actually open accounts and make transfers, and how much balance will remain, will determine the commercial value of this entry.

If the Samsung Wallet really leads to a sustained increase in USDC balances, the next discussion will not only be about how to acquire users but also how to distribute the commercial value generated by this balance. The undisclosed cooperation terms between both parties will become crucial at that time.