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Samsung Pay With Crypto Integration For 10 Million Users: New Report

A new report is in the latest crypto news where Samsung Electronics, one of the leading tech names, is officially looking to add high-profile crypto integration for the newest smartphone, the Galaxy S10.

According to The Korea Herald and its reports, Samsung is now set to integrate a cryptocurrency wallet in the Galaxy S10 – scheduling it well over a month before the formal release of the Samsung Blockchain Wallet on February 21.

On top of this, industry sources told the publication that Samsung Pay, which is a popular and used digital payments application system with more than 10 million active users, is also behind the Galaxy S10 and its cryptocurrency wallet.

According to an industry executive:

“The arrival of the new Samsung phones could start popularization of the cryptocurrency wallet system in Korea.”

Another report from a mainstream media in South Korea named Donga shows that Samsung Pay considers cryptocurrency integration as a way to expand its user base all over the world. The report read:

“Samsung Pay has recently extended the transaction period for overseas users and integrated an international payment processing service, aggressively targeting the global financial services market.

At this phase of development, if a cryptocurrency wallet is added to Samsung Pay, the application will be strengthened as a complete fintech platform. Currently, the Samsung Blockchain Wallet is said to be supporting Ethereum but more cryptocurrencies are expected to be integrated in the near-term.”

According to Donga, the user base behind Samsung Pay has grown by more than 58% from 2017 to 2018, rising to a staggering number of 6.6 million users.