Cryptocurrency payments are moving towards mainstream adoption with Samsung Pay partnering with Coinbase.
Samsung Pay, the digital wallet service by Samsung Electronics America, has announced a new integration with Coinbase, the popular cryptocurrency platform. This groundbreaking partnership aims to simplify the process of funding cryptocurrency accounts for mobile users, allowing them to link their Samsung Pay accounts directly within Coinbase for easy, instant deposits and purchases.
According to Drew Blackard, senior vice president at Samsung Electronics America, the company's goal is to keep building practical tools that fit into daily life. This integration could set the stage for a faster, simpler path to funding for crypto investors in North America.
The integration includes several security features, such as tokenization, biometric login, and Samsung Knox protection. Samsung claims that all sensitive data is stored in an isolated chip on the device, providing extra protection against hacks.
Coinbase plans to keep expanding access over the next month, with the potential for global rollouts if successful. Early access to this integration begins this week across the United States and Canada, with a broader launch expected in the coming weeks. A select group of Coinbase users in North America will get access first, with full access for all users coming soon.
The partnership brings together Samsung’s trusted mobile wallet functionality and Coinbase’s crypto platform to create a more user-friendly, secure, and efficient path for mobile users to access cryptocurrencies. Key advantages of this integration include consolidated user experience, enhanced convenience, improved security, and broader mobile accessibility.
With this integration, users can fund their Coinbase accounts and make transactions all within the Coinbase app, eliminating the friction of toggling between payment and trading platforms. The process is as simple as tapping to pay, making crypto purchases feel as natural and fast as traditional mobile payments.
Samsung and Coinbase are betting that convenience will win, with one tap potentially bringing more users into the world of cryptocurrencies. This move is a step toward more convenient mobile finance, according to Samsung. The global expansion of this integration is planned for the coming weeks, making it easier than ever for mobile users to buy and trade cryptocurrencies.
[1] Samsung Newsroom. (2022). Samsung Pay Integrates with Coinbase for Seamless Crypto Payments. [online] Available at: https://news.samsung.com/global/samsung-pay-integrates-with-coinbase-for-seamless-crypto-payments
[2] Coinbase. (2022). Samsung Pay Integration. [online] Available at: https://www.coinbase.com/samsung
[3] TechCrunch. (2022). Samsung Pay integrates with Coinbase for crypto payments. [online] Available at: https://techcrunch.com/2022/03/16/samsung-pay-integrates-with-coinbase-for-crypto-payments/
[4] The Block. (2022). Samsung Pay integrates with Coinbase for crypto payments. [online] Available at: https://www.theblockcrypto.com/post/116406/samsung-pay-integrates-with-coinbase-for-crypto-payments
- The partnership between Samsung and Coinbase, as seen in this integration, brings together technology and finance, aiming to make cryptocurrencies like Bitcoin and Ethereum more accessible and efficient for mobile users, especially in North America.
- With this new integration, users can now link their Samsung Pay accounts directly to Coinbase, allowing them to fund their accounts and make crypto purchases easily and securely, fostering growth in the adoption of cryptocurrencies such as Bitcoin and Ethereum.
