Samsung Pay to integrate cryptocurrencies for 10 mln users

A mainstream media outlets in South Korea, Donga, reported on 8 March that Samsung Pay, with over 10 million active users, considers cryptocurrency integration as a way to expand its user base internationally. This follows the release of the Samsung Blockchain Wallet. The March edition of Shin Donga, the oldest magazine in the country, featured a report called ‘Crypto, Flying Away With Samsung Pay on its Back?’, which suggested that cryptocurrency support will strengthen Samsung Pay as a fintech platform.

The report translated by CCN mentioned that Samsung Pay has recently extended the transaction period for overseas users and integrated an international payment processing service, targeting the global financial services market. Also, according to Donga, the user base of Samsung Pay has grown by 58% from 2017 to 2018, by a staggering 6.6 million users.

Currently, the Samsung Blockchain Wallet is said to be supporting Ethereum, however more cryptocurrencies are expected to be integrated.