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Coinbase-Samsung Deal Expands USDC Access Through Samsung Wallet
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Key Takeaways
COIN will bring USDC to U.S. Samsung Wallet users in late October 2026, with Coinbase Prime.
Average USDC balances in Coinbase products hit a record $20 billion in Q2 2026, up 44% year over year.
Wider USDC adoption could boost COIN's custody and payments business, but earnings rely on sustained usage.
Coinbase Global (COIN - Free Report) is expanding its stablecoin distribution through a partnership with Samsung, bringing USD Coin (USDC) to Samsung Wallet users in the United States. The service is expected to launch in the last week of October 2026, with USDC as the default dollar stablecoin. Coinbase will provide subcustody through Coinbase Prime, alongside licensed infrastructure partner Bastion.
Samsung’s broad consumer reach could help Coinbase introduce USDC to users beyond its existing crypto customer base. Integrating stablecoins into a familiar digital wallet could encourage adoption for payments and cross-border transfers, strengthening Coinbase’s position in the digital payments ecosystem.
The opportunity is supported by rising adoption. In the second quarter of 2026, average USDC balances held in Coinbase products reached a record $20 billion, up 44% year over year. More than 30% of circulating USDC was held in Coinbase products at quarter-end.
Wider adoption could create opportunities across custody, payments and other stablecoin-related services. It may also support activity on Base, Coinbase’s Layer-2 blockchain network, if users transact through services connected to the network.
However, greater adoption will not automatically translate into higher earnings. The financial impact will depend on customer activity, transaction volumes, operating costs and revenue-sharing arrangements. If the partnership generates sustained usage, it could broaden Coinbase’s distribution and support revenue diversification beyond trading fees.
What Are Competitors Doing?
PayPal Holdings (PYPL - Free Report) is broadening the reach of its PYUSD stablecoin through its established consumer and merchant network. Wider availability could support cross-border transfers and digital payments, helping PayPal connect traditional payment services with blockchain-based transactions.
Circle Internet Group (CRCL - Free Report) is expanding USDC adoption through partnerships that integrate stablecoin payments into existing business systems. On Oct. 7, 2026, Circle announced a partnership with Tereina to integrate USDC and EURC into enterprise workflows, starting with the SAP ecosystem. Wider USDC integration across consumer wallets, including Samsung Wallet, could increase stablecoin adoption and strengthen demand for Circle’s ecosystem.
COIN’s Price Performance
Shares of COIN have lost 55.5% in the past year compared with the industry decline of 27.9%.
Image Source: Zacks Investment Research
COIN’s Valuation
COIN trades at a price-to-earnings ratio of 74.44, significantly above the industry average of 15.11.
Image Source: Zacks Investment Research
Estimate Movement for COIN
The Zacks Consensus Estimate for COIN’s 2026 and 2027 earnings per share (EPS) witnessed upward movement in the last 30 days.
Image Source: Zacks Investment Research
The consensus estimate for COIN’s 2026 revenues and earnings indicates a year-over-year decrease. Meanwhile, the consensus estimate for 2027 revenues and earnings implies a year-over-year increase.
View the Zacks #1 Rank List
Image: Bigstock
Coinbase-Samsung Deal Expands USDC Access Through Samsung Wallet
Key Takeaways
Coinbase Global (COIN - Free Report) is expanding its stablecoin distribution through a partnership with Samsung, bringing USD Coin (USDC) to Samsung Wallet users in the United States. The service is expected to launch in the last week of October 2026, with USDC as the default dollar stablecoin. Coinbase will provide subcustody through Coinbase Prime, alongside licensed infrastructure partner Bastion.
Samsung’s broad consumer reach could help Coinbase introduce USDC to users beyond its existing crypto customer base. Integrating stablecoins into a familiar digital wallet could encourage adoption for payments and cross-border transfers, strengthening Coinbase’s position in the digital payments ecosystem.
The opportunity is supported by rising adoption. In the second quarter of 2026, average USDC balances held in Coinbase products reached a record $20 billion, up 44% year over year. More than 30% of circulating USDC was held in Coinbase products at quarter-end.
Wider adoption could create opportunities across custody, payments and other stablecoin-related services. It may also support activity on Base, Coinbase’s Layer-2 blockchain network, if users transact through services connected to the network.
However, greater adoption will not automatically translate into higher earnings. The financial impact will depend on customer activity, transaction volumes, operating costs and revenue-sharing arrangements. If the partnership generates sustained usage, it could broaden Coinbase’s distribution and support revenue diversification beyond trading fees.
What Are Competitors Doing?
PayPal Holdings (PYPL - Free Report) is broadening the reach of its PYUSD stablecoin through its established consumer and merchant network. Wider availability could support cross-border transfers and digital payments, helping PayPal connect traditional payment services with blockchain-based transactions.
Circle Internet Group (CRCL - Free Report) is expanding USDC adoption through partnerships that integrate stablecoin payments into existing business systems. On Oct. 7, 2026, Circle announced a partnership with Tereina to integrate USDC and EURC into enterprise workflows, starting with the SAP ecosystem. Wider USDC integration across consumer wallets, including Samsung Wallet, could increase stablecoin adoption and strengthen demand for Circle’s ecosystem.
COIN’s Price Performance
Shares of COIN have lost 55.5% in the past year compared with the industry decline of 27.9%.
Image Source: Zacks Investment Research
COIN’s Valuation
COIN trades at a price-to-earnings ratio of 74.44, significantly above the industry average of 15.11.
Image Source: Zacks Investment Research
Estimate Movement for COIN
The Zacks Consensus Estimate for COIN’s 2026 and 2027 earnings per share (EPS) witnessed upward movement in the last 30 days.
Image Source: Zacks Investment Research
The consensus estimate for COIN’s 2026 revenues and earnings indicates a year-over-year decrease. Meanwhile, the consensus estimate for 2027 revenues and earnings implies a year-over-year increase.
COIN stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.