Are Cryptocurrency Wallets Coming to Samsung Galaxy S10?

Samsung’s flagship smartphone, the Galaxy S10, will likely include embedded support for cryptocurrency wallets, according to leaked images of the user interface. Rarely missing the mark on future technology trends, Samsung could be paving the way for mass adoption of digital assets in the future.

Embracing Crypto?

Leaked images of the upcoming Galaxy S10 smartphone show embedded support for cryptocurrency wallets, which would allow users to transfer an existing crypto wallet or create a new one directly through their device. The “Samsung Blockchain KeyStore” is said to provide “a secure and convenient place for your cryptocurrency,” as well as a place to manage private keys.

The following images have been circulating on Twitter over the past 24 hours:

The Samsung Blockchain KeyStore is a step above earlier leaks that implied cold storage and hot wallet capabilities. This would allow users to store their coins in a secure environment and use them to make transactions.

Samsung will officially launch the Galaxy S10, S10+ and S10 Lite on Feb. 20.

What This Means for Crypto Adoption

Samsung’s foray into cryptocurrency would be a significant boost to the nascent technology, which has struggled to attract mainstream users since the bear market re-emerged last year. Until now, cryptoassets have been largely used as a store of value and for speculative purposes, as traders continue to navigate an uncertain regulatory environment.

Several initiatives are currently underway to bring crypto to mainstream circles. This has spawned a budding community of startups and early adopters keen on spreading decentralized payment systems.

Intercontinental Exchange (ICE) is leading one of the biggest efforts to bring cryptocurrency to mainstream investors and consumers. By partnering with Microsoft, Starbucks and other notable companies, ICE is looking to build an ecosystem for cryptocurrency payments and trading solutions. Bakkt, the platform that will deliver these goods, is expected to launch sometime this quarter.

Bakkt recently published a list of eight vacancies that are actively being recruited for its Atlanta and New York offices.

Read more: What is Bakkt? Preparing for the Physical Bitcoin Futures Market

Samsung may be looking to catch the crypto trend early to capitalize on the ecosystem’s future growth potential. It wouldn’t be the first time that the company has pushed for innovation in the smartphone market. The company is reportedly developing its first ever foldable phone, which is expected to debut this year.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Chief Editor to Hacked.com and Contributor to CCN.com, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi