In May 2020, Gemini, the New York-based crypto exchange, announced it would partner with “Samsung Blockchain” to power their Samsung Blockchain Wallet. The wallet will be integrated with Gemini Exchange allowing owners of new Samsung Galaxy smartphones to use their devices as cold storage wallets and conveniently, allow them to buy and sell crypto.
Previously, users of the Samsung Blockchain Wallet were only able to store, send and receive crypto. With this latest update, users are now able to buy and sell the new asset class via the Gemini Exchange.
It’s no secret that Samsung is one of the leading companies in the global smartphone market, selling over 250 million units in 2019. By adding support for Gemini, it will allow easier access for millions of people to enter the crypto space, and will likely encourage numerous users to start purchasing and using crypto.
What we’re seeing here is Samsung and Gemini are essentially bringing crypto to the masses. Many exchanges are simply too complicated for the average person to navigate, hindering the early adoption of crypto. This new integration with Gemini Exchange will make it extremely easy for first- time crypto buyers to enter the market.
Gemini is also one of the few exchanges allowed to operate in the state of New York, which gives them a huge advantage due to the sheer size of their local market, something their competitors don’t have access to. It is, however, important to consider that it is not only Samsung and Gemini who will benefit from this integration, but rather the crypto industry as a whole.
Global Crypto will keep you updated as the news unfolds.
Feature image by Pexels from Pixabay
