Samsung Adds Bitcoin (BTC) to S10 Keystore Feature
Samsung rides the popularity of crypto assets in South Korea, finally allowing the cold storage of Bitcoin (BTC) on its Keystore built-in hardware wallet.
Samsung has issued a new Software Developer Kit (SDK) allowing the connection between the Bitcoin (BTC) blockchain and the Keystore feature of a series of new smartphones. The SDK and the phone features still face limitations based on technology and are restricted to a handful of countries.
It will be possible to link the models Galaxy S10e, S10, S10+, S10 5G, Note10, and the Note10+. The SDK is restricted to BTC, Ethereum (ETH) and a smaller asset, Klaytn. Only users from Canada, Germany, South Korea, Spain, Switzerland, United States of America and the United Kingdom will be able to access the features initially. Samsung plans to include additional cryptocurrencies in the future, and expand the service to other regions. The Keystore feature also supports Ethereum-based ERC-20 tokens by extension.
Samsung’s move reflects the drive for crypto adoption in South Korea. The Klaytn blockchain is the native network of the Kakao chat app, one of the most influential messaging apps in the country. Samsung itself is working on a native solution based on the Ethereum network, and may issue a token in the future.
The S10 phone series was seen as one of the gateways for mass crypto adoption. Wallets and apps seek ways to add digital assets to mobile phones for easier access.
The SDK launch is a relatively small step to mainstream crypto adoption, as developers still need to link the blockchain to the phones. Still, gaining mobile access means a larger potential audience for digital asset payments.
In the past, multiple attempts have been made for small-scale assets to exist on smartphones, including networks like Electroneum (ETN). The Kik chat app also tried to link its chief product with a native asset, but faced headwinds from the US Securities and Exchange Commission.
Samsung has shown its more crypto-friendly stance, in comparison to Apple, which is careful about adding crypto functionalities.