A new Samsung Wallet for virtual currencies could be announced as soon as on February 21. Samsung is going to hold its “Galaxy Unpacked” event in San Francisco to launch the new Samsung Galaxy S10 phone.
Back in December 2018, some rumours spread regarding the possibility for Samsung to release a cryptocurrency wallet embedded in its newest device. This was very bullish for the cryptocurrency community because it would allow individuals to have access to an integrated wallet in a telephone.
According to the news site Sammobile, Samsung is developing a crypto wallet and it may be launched with the Galaxy S10. As per this report, the service would have two different parts. One will be a cold wallet to store digital currencies, public and private keys and signing transactions. At the same time, there will be another to be used for transfers, view account information and also transaction history.
According to some experts and crypto analysts, the effects on the market could be very important. Joseph Young, a crypto journalist said that this development would have a bigger impact on Bitcoin (BTC) than Bakkt or an exchange traded fund (ETF).
Bakkt is the platform that is being created by the Intercontinental Exchange (ICE) and that it is focused on institutions rather than retail investors. The community is waiting for the launching of this platform because it would allow institutions to enter the crypto space. The same if a Bitcoin ETF is approved in the future.
However, Young shows that this would have a larger impact on the space. With millions of devices around the world, Samsung could be introducing virtual currencies to the masses. It will also provide a cold wallet solution to millions of crypto users in different countries.