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Samsung’s stablecoin push puts five digital dollars in focus
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Samsung’s stablecoin push puts five digital dollars in focus

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  • Samsung Electronics plans native stablecoin support through Samsung Wallet as its Galaxy AI device base targets 800 million.
  • USD Coin (CRYPTO:USDC) had US$72.3 billion circulating on 27 July, while PayPal USD (CRYPTO:PYUSD) recently exceeded US$2.6 billion.
  • Samsung has not confirmed the stablecoin, blockchain, custody model, eligible markets or launch date, leaving the final distribution model unclear.

USD Coin (CRYPTO:USDC)

USD Coin (CRYPTO:USDC) is the clearest asset to watch because Samsung displayed USDC inside its Wallet demonstration.

Circle reported US$72.3 billion of USDC in circulation on 27 July, backed by cash and highly liquid cash-equivalent assets.

Samsung Wallet already has nearly 19 million South Korean users and operates across 61 countries, according to the Grafa report.

However, Samsung has not confirmed Circle Internet Group (NYSE:CRCL), USDC or any blockchain as an official partner for the rollout.

Tether (CRYPTO:USDT)

Tether (CRYPTO:USDT) remains a major benchmark because USDT and USDC together account for a large share of stablecoin liquidity.

Their combined market capitalisation was about US$260 billion around Open USD's June announcement, according to reporting by The Wall Street Journal.

That existing liquidity gives USDT an established position as technology and payments companies build new stablecoin distribution channels.

Samsung has not indicated that USDT will receive native Wallet support, so any connection remains unconfirmed.

PayPal USD (CRYPTO:PYUSD)

PayPal USD (CRYPTO:PYUSD) provides a direct comparison because it connects a dollar stablecoin with an established consumer payments platform.

PYUSD had a market capitalisation of about US$2.68 billion on 26 July, according to CoinGecko historical data.

That model differs from Samsung because PayPal has its own branded stablecoin, while Samsung has not announced plans to issue one.

Samsung's approach currently centres on adding stablecoin functionality to Samsung Wallet rather than creating a Galaxy-branded token.

U.S. Dollar Payment Token (CRYPTO:USDPT)

U.S. Dollar Payment Token (CRYPTO:USDPT) offers another distribution-led model through Western Union (NYSE:WU).

Western Union launched USDPT on Solana (CRYPTO:SOL) in May, with Anchorage Digital Bank issuing the dollar-backed token.

Western Union said its Stable consumer product is scheduled to reach more than 40 countries during 2026.

USDPT therefore targets payments through an existing financial network, while Samsung is pursuing distribution through smartphones and Samsung Wallet.

Open USD (CRYPTO:USDO)

Open USD (CRYPTO:USDO) represents a consortium-led alternative aimed at businesses rather than one company's consumer ecosystem.

More than 140 businesses joined the Open Standard initiative, including major payments and technology companies.

The project says businesses can mint and redeem Open USD without fees or artificial volume limits.

Its planned distribution across multiple corporate partners contrasts with Samsung's potential route through hundreds of millions of Galaxy devices.

The bottom line

Samsung's stablecoin plan highlights a broader shift from crypto-native wallets towards distribution through smartphones, payments companies and established financial networks.

USDC currently has the strongest visible Samsung connection because it appeared in the company's demonstration, but Samsung has not confirmed its final partners.

The key barriers remain regulation, custody, blockchain selection and geographic availability, which will determine how widely Samsung's feature can operate.

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