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Samsung to Bring Crypto Support on Budget Galaxy Phones

South Korean electronics giant Samsung is set to add cryptocurrency storage support to its budget phones, the company confirmed on an official post.

The leading phone manufacturer first entered the digital asset market by introducing crypto storage services in its flagship Galaxy S10 lineup.

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“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,” Chae Won-cheol, senior managing director at the company, noted on a May 13 post on the company’s official newsroom. “We will also expand our service target countries after Korea, the United States, and Canada.”

 

Will @Apple work out a way to enable $crypto payments in the same way that @FlexaHQ has but with Apple Pay? Have a feeling they could potentially unveil something crypto related at #WWDC19 next month as they need to compete with @Samsung who are already in crypto – THINK!? 😱 — Peta₿yte Capital (@PetaByteCapital) May 14, 2019 Suggested articles Traderace Launches Lucrative New Trading ConceptGo to article >> Betting big on blockchain

The Korean conglomerate is also planning to launch blockchain-based mobile identification card and local currencies and is already in talks with two telecom giants – SK Telecom and Korean Telecom.

“We will develop technologies for blockchain-based identification and local currencies by partnering with telecom operators,” Chae added.

Samsung is also heavily investing in blockchain technology and, according to a media report, the company is also developing its own blockchain on the top of Ethereum. In addition, it is also planning to introduce its own digital currency.

Samsung’s S10 phones use Samsung Blockchain Key Store to safely store private crypto wallet keys on the devices. The company also developed its proprietary wallet platform – Samsung Blockchain Wallet – which ...

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