Coinbase has unveiled a direct integration with Samsung Pay, allowing U.S. and Canadian users to purchase cryptocurrencies like Bitcoin and Ethereum instantly within its app. The feature, now rolling out in phases, eliminates previous workarounds requiring third-party exchanges and marks a strategic push into Canada’s burgeoning crypto market.
The partnership leverages Samsung’s "defense-grade" Knox security platform, enabling biometric authentication and tokenized transactions. Users can fund Coinbase accounts or buy crypto in a single step without debit/credit cards—sidestepping deposit fees common on platforms like KuCoin. Nana Murugesan, Coinbase’s VP of International and Business Development, emphasized the move aligns with Samsung Wallet’s evolution into a unified hub for payments and digital assets.
Canada’s crypto-friendly landscape proved pivotal in the rollout. With 30% of Canadians planning crypto investments and the nation ranking as the world’s third most crypto aware, Coinbase recently secured regulatory compliance via a Pre-Registration Undertaking. The exchange also partnered with Canadian banks for Interac e-transfers, reinforcing its "Go Deep" strategy.
Competitively, the deal pressures Apple Pay and Google Pay, which still rely on prepaid card intermediaries like BitPay. Industry analysts note it could accelerate mainstream adoption by embedding crypto within daily finance tools. Samsung’s 500 million+ global device footprint offers Coinbase unmatched scaling potential, though assets remain stored in Coinbase wallets rather than Samsung Pay.
While full U.S./Canada availability is pending, Coinbase hints at future expansions into Samsung’s 24+ operational markets. The collaboration sets a regulatory benchmark amid tightening global crypto frameworks and could soon enable direct crypto spending at retailers via virtual cards.
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