Samsung Confirms New Galaxy S10 Phone Will Offer Crypto Wallet

Home » Samsung Confirms New Galaxy S10 Phone Will Offer Crypto Wallet

The Mobile World Congress has been taking place in Barcelona this week – and Samsung has set the crypto world alight by confirming that its new Galaxy S10 smartphone is going to offer support for cryptocurrencies.

During a presentation at the event, which has been held at the Fira Gran Via exhibition centre, executives from the company revealed that the device will offer wallet functionality for Bitcoin and Ethereum – two of the world’s biggest coins – along with two other kinds of tokens.

Reports suggest that the Galaxy S10 could come installed with the Enjin wallet, a company which says it offers “simple and fast cryptocurrency management and a mobile-first approach”. Its software supports BTC, ETH and Litecoin – along with a series of tokens.

The tokens Enjin supports include ERC-20, which have become popular among initial coin offerings because of their simplicity because they are easy to create and distribute among users. Tellingly, the wallet is also compatible with ERC-1155 tokens, which are becoming increasingly popular as a way of exchanging gaming assets between players.

News of the partnership between Enjin and Samsung sent the value of the wallet’s native cryptocurrency, ENJ, soaring – and on one South Korean exchange, prices soared by an eye-watering 223%.

The first decentralised app (DApp) to feature on the Galaxy S10 has also been unveiled. Known as COSMEE, the platform enables users of beauty products to receive rewards whenever they write comments, leave reviews or like posts – and the DApp hopes this will see social media platforms shift away from the current status quo, where only a small handful of influencers have a chance to make a profit on their posts.

COSMEE is scheduled to launch later this year and also enjoyed a price boost following the announcement. At the time of writing, the cost of a CosmoCoin was 28% higher than at the same point last week.

Back in December, Samsung had rejected claims that it was planning to launch an integrated crypto wallet in one of its smartphones as speculation. But leaked photos of new products are far from rare in the smartphone world – and images obtained by a “serial mobile leaker” in January seemed to confirm that the South Korean tech giant was planning a Blockchain Keystore app.

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