Samsung Pay Expected to Bring Crypto Integration to Millions of Users
The Samsung S10 phone will integrate digital assets, sparking hopes that multiple projects will gain wider adoption.
The next wave of crypto adoption may be driven by the recent launch of Samsung’s Galaxy S10 phone, along with the option for the Samsung Pay app to integrate digital assets. Speculation about the S10 holding a crypto wallet appeared about a month before the launch of the device, as reported by Korean media. So far, the crypto-related features of Samsung products have been limited.
The S10 series is yet to activate multiple digital assets, and users are reporting that the promised features are still inactive despite confirmation that the phones will support a crypto wallet.
There is still no clarity on which coins would be supported by the Samsung S10 series. The most dramatic effect so far has been seen in the Enjin Coin (ENJ), which is up more than 147% in a week. The coin spiked on rumors that it would partner with Samsung to become one of the first assets added and supported within the digital asset wallet.
Screenshots have been emerged of phones accessing the blockchain and having support for the Keystore blockchain app. For now, it is uncertain how the new phones will support the entire ecosystem of the Enjin gaming project.
It is also uncertain what connection there would be between the Samsung Pay app and the integration of digital assets. A single point of payment through a powerful fintech app could extend the reach of crypto to more than 10 million Samsung Pay users.
The Keystore blockchain connection app offers some of the chief features to store digital assets directly and safely on a smartphone. The device itself uses secure hardware storage to isolate the private keys.
Until now, the Finney phone by SIRIN Labs was the only device with a hardware storage option. The S10 series may support Ethereum (ETH), as well as ERC-20 tokens. With ETH losing some of its popularity, such support may revive the network and spur its adoption.