Key Highlights
- Coinbase has integrated its trading services directly into the Samsung Wallet app, which allows over 75 million U.S. Galaxy users to purchase cryptocurrencies like Bitcoin and Ethereum using Samsung Pay
- The partnership includes significant promotional offers, including a free three-month subscription to Coinbase One’s premium services
- To secure transactions, the partnership will use Samsung Knox security
On October 3, the leading cryptocurrency exchange, Coinbase, announced its strategic partnership with Samsung, a South Korean multinational major appliance and consumer electronics company. This partnership is intended to introduce crypto-related services to 75 million Galaxy series users in the U.S.
(Source: Brian Armstrong on X)
The partnership will embed the ability to purchase cryptocurrencies like Bitcoin and Ethereum through exclusive access to Coinbase One within the Samsung Wallet application. This is a huge development from the cryptocurrency sector, which makes it a standard feature of the mobile experience.
Samsung Integrates Coinbase Trading for Millions
The new feature will allow users to buy crypto through the familiar Samsung Pay system directly inside the Coinbase application. This will end the need to switch between different applications or repeatedly enter payment information, creating a smooth and unified process, according to the official announcement.
Shan Aggarwal, Chief Business Officer, Coinbase, stated in a press release, “Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto — starting with more than 75 million Galaxy users across the U.S., and soon around the world.”
Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, said, “Samsung Wallet is a trusted tool to millions of Galaxy users, and we’re continually working to find creative ways to enhance the experience with added functionality. Coinbase is a leader in the industry, which made them the ideal partner to provide our users with seamless access to crypto.”
The initiative builds upon an earlier phase of the partnership from July, which first introduced Samsung Pay as a way to fund Coinbase accounts. The latest rollout represents a deeper, more functional merger of the two platforms, designed for maximum user convenience.
To encourage immediate adoption, the partnership includes major incentives for Galaxy users. These include a complimentary three-month subscription to Coinbase One, the exchange’s premium service.
This subscription normally carries a monthly fee and offers benefits such as zero trading fees on certain transactions, higher rewards for staking assets, and enhanced account protection. Furthermore, new users who complete their first trade through the Samsung Wallet integration will receive a $25 credit.
Samsung’s proprietary defense platform, Samsung Knox, has also addressed security concerns for crypto-related transactions. This system provides biometric authentication and data protection, working in concert with Coinbase’s own secure and regulated infrastructure.
For the user, the result is the ability to view and manage their cryptocurrency holdings alongside their digital identifications, membership cards, and other payment methods in a single, secure application.
Global Trend of Integration of Crypto Trading
According to CoinMarketCap, the cumulative market capitalization of the cryptocurrency is standing at around $4.18 trillion. This surge in crypto trading has attracted the attention of many big companies, financial institutions, and banks.
Globally, major banks are developing their own crypto services. JPMorgan Chase has pioneered the use of a USD-pegged stablecoin for instant settlements, while Goldman Sachs offers its clients Bitcoin trading and lending services. International banks like Singapore’s DBS and Spain’s BBVA have also launched institutional trading and custody platforms.
This institutional push is triggered by the need to attract a new generation of customers who view cryptocurrencies as a normal part of their financial lives.
Coinbase’s Rival Binance Introduces Crypto-as-a-Service (CaaS)
Binance has introduced a new initiative aimed squarely at financial institutions. The service, named Crypto-as-a-Service (CaaS), launched on September 29, functions as a white-label solution for licensed banks and brokerage firms.
This model allows these established entities to offer cryptocurrency trading to their own clients without the immense cost and technical challenge of developing their own platforms from the ground up.
The CaaS product is a comprehensive toolkit designed for institutional needs. It provides access to spot and futures trading, connecting partners to Binance’s deep liquidity pools. The service also includes critical back-end infrastructure such as internal systems for matching customer orders, regulated custody solutions for asset safety, and integrated know-your-customer (KYC) compliance protocols.
