Coinbase partners with Samsung to expand crypto access for US customers

Coinbase (COIN) and Samsung are teaming up to expand crypto trading for US clients through the integration of Coinbase One into the Samsung Wallet.

Samsung taps Coinbase for crypto trading integration

Crypto exchange Coinbase is partnering with electronics company Samsung to bring crypto trading directly into the latter's Galaxy devices, according to a statement on Friday.

The companies claim that the collaboration could give more than 75 million US users access to crypto through the Samsung Wallet. Coinbase also added a Samsung Pay feature for its US customers, enabling faster wallet funding.

“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 of Galaxy users across the US, and soon around the world,” said Shan Aggarwal, Coinbase's Chief Business Officer.

The Samsung Pay feature will launch for select Coinbase users over the next month, with plans to extend it to other users in the US and Canada soon after.

The companies also added that they will extend the Coinbase One integration to Galaxy users globally in the coming months.

“This partnership with Coinbase will allow our users additional access to explore and engage with crypto on a trusted platform all from the convenience of their mobile device,” said Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America.

The move comes on the heels of Coinbase's push to bring crypto to institutional markets this year. The firm announced a partnership with Shopify in June to enable millions of merchants on Shopify to accept USDC stablecoin payments via the Base blockchain.

Last month, Coinbase launched its Mag7 + Crypto Index Futures, which combines exposure to the top seven traditional tech stocks and cryptocurrencies within a single index.