A Solana Foundation-related executive said the U.S. GENIUS Act has given companies and financial institutions a regulatory push to enter the stablecoin sector, and described it as one of the key background factors behind Samsung’s move into stablecoin payments. Samsung has said it will begin supporting USDC cross-border transfers in Samsung Wallet in the final week of October. The first phase will target eligible Galaxy users in the United States, covering about 82 million devices. Users will be able to send U.S. dollar stablecoins to compatible crypto wallets within seconds without transfer fees, and also remit funds to eligible bank accounts across more than 60 countries and regions. The service will run on Solana and Sui, with licensed stablecoin custodian Bastion providing transfer services and Coinbase Prime serving as sub-custodian to safeguard USDC assets. The cooperation between Samsung and Solana has been in preparation for years, and the two sides plan a phased rollout focused first on user adoption, with possible expansion into online and offline stablecoin payment scenarios later on.
According to BlockBeats, a Solana Foundation-related executive said on Oct. 17 that the U.S. GENIUS Act has provided regulatory momentum for companies and financial institutions entering the stablecoin market. The executive also described the law as one of the important background factors behind Samsung’s planned stablecoin payment service.
Samsung has announced that it will start supporting USDC cross-border transfers in Samsung Wallet in the final week of October. In its first phase, the service will be available to eligible Galaxy users in the United States, covering about 82 million devices.
Based on the details disclosed so far, users will be able to send U.S. dollar stablecoins to compatible crypto wallets within seconds without paying transfer fees. They will also be able to remit funds to eligible bank accounts in more than 60 countries and regions.
The service will use the Solana and Sui networks as its underlying infrastructure. Licensed stablecoin custodian Bastion will provide transfer services, while Coinbase Prime will act as sub-custodian responsible for safeguarding USDC assets.
The same executive said Samsung and Solana have been preparing the cooperation for years. The rollout will proceed in stages, with the initial focus on improving user adoption. The service may later expand into both online and offline stablecoin payment scenarios.
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