Samsung expands Coinbase partnership with Galaxy Wallet tie-up in US

Samsung is expanding its partnership with Coinbase to let U.S. Galaxy smartphone users fund their Coinbase accounts with Samsung Pay, while also pushing a Coinbase One promotion through Samsung Wallet.

The integration, first announced in July, adds Samsung Pay as a payment option for Coinbase customers. The companies say it could reach more than 75 million Galaxy owners, with international rollout expected in the coming months.

"Samsung Wallet is a trusted tool to millions of Galaxy users, and we're continually working to find creative ways to enhance the experience with added functionality," said Drew Blackard, senior vice president of mobile product management at Samsung Electronics America.

As part of the rollout, Galaxy users will also gain limited-time access to Coinbase One, the exchange's subscription service that waives some trading fees and offers boosted staking rewards.

 This move adds Samsung Pay, which is native to Galaxy phones, as an account funding option on Coinbase. For Coinbase, it marks a fresh distribution channel as exchanges race to capture retail users in a crowded U.S. market.

Coinbase’s latest results from the second quarter showed its slowest revenue growth in years at just 3%, lagging Kraken’s 18% jump and Robinhood’s near-doubling of crypto revenue.

Shares of Coinbase are trading slightly higher today at around $373, up nearly 130% in the past year, according to The Block Price data.

Correction: An earlier draft incorrectly said U.S. Galaxy users could buy crypto natively in Samsung Wallet. Samsung Pay will be added as a funding method within the Coinbase app. The headline was also adjusted to reflect this.

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