Samsung Launches Crypto Wallet and Storage for New S22 Smartphone
Image Source: BGR India

Samsung Launches Crypto Wallet and Storage for New S22 Smartphone

On the S22 Ultra smartphone, Samsung Launches Crypto Wallet. This Samsung Wallet will allow crypto storing. Apple is lagging behind when it comes to Bitcoin payments on iPhones. Samsung announced the news at a Metaverse event.

Samsung Launches Crypto Wallet

Samsung Launches Crypto Wallet and Storage for New S22 Smartphone
Image Source: Optimisus

 

The Samsung Wallet was unveiled at Samsung’s “Unpacked 2022” virtual event, which also featured the launch of the Galaxy S22 Ultra smartphone. The wallet was advertised as having the ability to “access and study complicated digital products” like cryptocurrency.

Personal credentials such as student IDs, driver’s licenses, and state IDs, as well as digital keys, credit and debit cards, flight permits, and immunization data, according to sources.

Samsung Pay, the company’s own payment platform, will function with a secure payment wallet. Samsung’s Knox Vault platform secures data and blockchain keys by encrypting them and separating them from the phone’s main operating system.

The new wallet competes directly with Apple Wallet, which likewise securely holds critical personal data. Samsung, on the other hand, is a step ahead of Apple in that it supports crypto asset storage and payments, which Apple does not.

However, there was almost no information on crypto capabilities, supported coins, or asset storage mechanisms in Samsung’s Feb 10 statement. On February 8th, Apple announced improvements to its Apple Pay system, including plans to introduce “Tap to Pay” on the iPhone.

The functionality will allow retailers across the United States to accept contactless payments, but it will not support cryptocurrencies because Google is still suspicious about them.

In the Decentraland Metaverse, Samsung revealed their new Galaxy devices at a virtual Samsung 837X venue. More than 100,000 people signed up for the virtual event, which included a chance to pre-order the new premium phones.

In early January, the firm made its Metaverse debut by launching its flagship 837 stores in collaboration with Decentraland. “This is one of the largest brand land takeovers in Decentraland’s history,” the company claimed at the time. Samsung has also entered the world of non-fungible tokens (NFTs).

BeInCrypto announced in early January that its 2022 TV collection will handle NFTs natively, allowing clients to purchase crypto art directly through a platform on the company’s smart TVs.

According to sources from August, the South Korean central bank’s digital money experiment will be integrated into Samsung’s flagship smartphones.

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