Samsung Crypto Support For New Galaxy Smartphones

Smartphone and consumer electronics manufacturer Samsung has taken another step towards embracing cryptocurrencies. It has now announced that it intends to include cryptocurrency support in a broader range of its handsets.

Samsung Wallet and Private Key Storage Apps

The flagship Galaxy product line will incorporate wallet and private key storage apps, including amongst the cheapest models in the range. The move will subsequently introduce millions of new consumers to spending and using cryptocurrencies for the first time.

The news comes after the successful rollout of blockchain apps in the latest Galaxy S10 model. The handsets were sold bundled with a suite of cryptocurrency apps.

The Samsung Blockchain Wallet, currently only available on the S10, allows users to send, receive and store cryptocurrencies directly from their device.

The smartphone also supports dapps, as well as incorporating digital signing technology. This will facilitate the secure storing of cryptocurrency private keys through separate software.

Senior executives at Samsung have said the firm now intends to include the technology across its Galaxy models. It will also roll out support for a wider range of countries in the near future.

Easier To Access Cryptocurrency

Chae Won-cheol, senior managing director of product strategy at Samsung Electronics’ wireless division, said the mission was to make it easier for consumers to access cryptocurrency.

“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions.”

He then suggested that the company would be expanding support for the technology into several new territories.

“We will also expand our service target countries after Korea, the United States and Canada.”

The company is no stranger to blockchain and cryptocurrency. The firm is currently working on parallel projects with several leading telecoms companies in its native Korea. These projects include investigating blockchain ID verification tools, as well as tools for users looking to spend local fiat currencies on blockchain.

It follows a recent $3 million investment in crypto wallet firm Ledger. And comes amid rumors of a future Samsung cryptocurrency, dubbed the “Samsung Coin”, which could ultimately be used on Samsung devices and payment platforms.

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