TREE NEWS update: Samsung Wallet will add support for USDC on the Sui network in late October. Bastion and Coinbase will custody the balances, while transfers to bank accounts in more than 60 countries will carry separate fees.
Samsung Wallet to Add USDC on Sui in Late October
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AI take
The notable part is the custody arrangement: Bastion and Coinbase standing behind balances inside a consumer wallet is a different posture from the self-custody norm in crypto, and it signals that stablecoin payments are being packaged for mainstream phone users rather than native wallets. Sui gaining a distribution channel through a handset maker's wallet matters more for its payments narrative than for its DeFi one. Whether the bank off-ramp fees stay competitive enough to make the wallet a genuine spending tool, rather than a holding spot, is the open question.
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