Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Key Notes
- Samsung Wallet integration combines payment services with crypto trading through biometric security and Knox platform.
- PNC Bank partnership provides institutional crypto services to 90,000 corporate clients via integrated banking platforms.
- These collaborations represent Coinbase's strategy to mainstream cryptocurrency adoption in the increasingly crypto-friendly US market.
Coinbase and Samsung announced the integration of the Samsung Pay and Samsung Wallet services with the Coinbase app on June 29 for select users in the US and Canadian markets, with a broader rollout expected over the next month.
Based on a press release from Samsung, the service integration will include Samsung Wallet, which combines Samsung Pass and Samsung Pay into a single, easy-to-use application for mobile transactions, installment payments, peer-to-peer payments, and crypto transactions, along with its embedded security features such as tokenization, biometric authentication, and the firm’s proprietary mobile security platform, Samsung Knox.
Samsung Wallet Integration Offers Seamless Crypto Trading
Coinbase stated in its own press release that the integration will allow Samsung mobile users to conduct seamless transactions on the Coinbase cryptocurrency exchange with just a few taps “without needing to switch apps or re-enter payment information.”
In related news, Sumit Gupta, the CEO of India’s CoinDCX, recently debunked rumors that Coinbase was in “advanced talks” to purchase the Indian cryptocurrency exchange. As Coinspeaker reported on July 29, Gupta stated that CoinDCX is instead focusing on its mission to increase economic freedom in the world. Meanwhile, Coinbase claimed that it is constantly exploring opportunities around the world to build, buy, partner, and invest to accelerate its roadmap.
Also in the news, Coinbase has recently entered into a partnership with PNC, the seventh-largest bank in the US based on data from Bankrate, to launch institutional cryptocurrency services enabling PNC’s 90,000 corporate clients to access crypto services through integrated banking platforms rather than external exchanges.
The Samsung and PNC partnerships indicate a broader push by Coinbase and the digital assets market as a whole to mainstream cryptocurrencies such as Bitcoin and Ethereum as well as their fiat-backed stablecoin counterparts as viable transactional tools in the modern economy, especially as the US market becomes more “crypto friendly” under the current administration.
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