South Korean corporation Samsung is going to add cryptocurrencies support to its payment service Samsung Pay – bitcoindoubler2x.com has found out.
According to Business Korea edition, the blockchain group, which was earlier working at the realization of cryptocurrency wallet support in Galaxy S10 smartphone, was transferred from the mobile division of the company to the service.
And now this group is a part of division, that is responsible for various smartphone services, including also Samsung Pay. The company appointed vice president of Samsung service division Kim Yong-jae as the leader of the group. He worked at such products as Samsung Pay and Samsung Health.
Reorganization was held according to Samsung plans concerning strengthening positions on the blockchain and cryptocurrency market. In addition, they expect that cryptocurrency wallet integration in Samsung Pay will greatly increase the amount of digital currencies users and at the global level decrease costs for financial institutions.
Last month appeared information that Samsung is developing its own blockchain on the basis of Ethereum, and in the future they plan to run a token.