Samsung To Bring Cryptocurrency Wallet To Budget Galaxy Phones

News | May 16, 2019 By:

South Korean electronics giant Samsung is planning to bring cryptocurrency and blockchain functions to its budget Galaxy smartphone models.

In March of this year, Samsung released its flagship phone, the Galaxy S10, with a built-in cryptocurrency wallet. Dubbed Samsung Blockchain Wallet, the crypto wallet currently has no bitcoin support and is only compatible with ethereum-based ERC-20 tokens. The wallet also supports decentralized apps (Dapps).

In its latest announcement, Samsung said that it will make the Blockchain Wallet available to other Galaxy models such as the budget Galaxy phones.

“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,” said Chae Won-cheol, senior managing director of the Product Strategy Team at Samsung Electronics’ Wireless Business Division. “We will also expand our service target countries after Korea, the United States and Canada.”

The South Korean electronics giant is also planning to cooperate with telecom companies to activate related technology such as blockchain identification and local currency. According to Business Korea, SK Telecom and KT are currently taking the lead in the digital identity authentication and local currency sectors, respectively.