Samsung, Coinbase Global Expansion Targets $1B Galaxy Users

Consumer electronics giant Samsung has partnered with cryptocurrency exchange Coinbase in a deal that could bring easier access to cryptocurrency for more than one billion Galaxy smartphone users worldwide.

In the first phase, about 75 million Galaxy users in the United States will gain access to Coinbase One, a subscription service that offers zero trading fees, higher staking rewards and account protection for lost funds due to unauthorized access, Coinbase announced Friday.

“Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto — starting with more than 75 million Galaxy users across the U.S., and soon around the world,” said Shan Aggarwal, chief business officer at Coinbase.

The two companies aim to expand access to more Galaxy smartphone users worldwide, potentially bringing a significant influx of new mainstream investors to the crypto market, given the over one billion active global Galaxy users.

Samsung accounted for about 13% of the world’s 7.4 billion smartphone users as of September, according to BankMyCell.

Related: Wall Street’s next crypto play may be IPO-ready crypto firms, not altcoins

This is a developing story, and further information will be added as it becomes available.