Samsung Teams with Crypto.Com to Bring Asset Trading Services on Galaxy Z Fold Phones

Samsung Galaxy Z Fold users will need to install the new Crypto.com app update.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 28 April 2023 14:16 IST

Samsung Teams with Crypto.Com to Bring Asset Trading Services on Galaxy Z Fold Phones

Photo Credit: Crypto.com

Samsung has been foraying into the Web3 space with crypto and metaverse projects

Highlights

Samsung’s Galaxy Fold users will get the crypto update soon
Crypto.com will provide data and information to Galaxy Fold users
Samsung has been dabbling in the Web3 space to become an early adopter

Samsung has joined forces with Crypto.com to make asset trading a smooth experience for the users of its flagship Galaxy Z Fold lineup. The crypto exchange is rolling out an update for its app, that will bring along resources and investment tools from Crypto.com for interested Galaxy Z Fold users to experiment with crypto trading. This move marks a supportive approach towards crypto from an established tech mammoth like Samsung. The development could trigger inflows into the digital assets sector, which at the time of writing stands at the valuation of $1.21 trillion (roughly Rs. 99,00,546 crore).

Samsung's Galaxy Z Fold users, after they install the latest Crypto.com app update, will be able to browse through the prices of crypto tokens on Galaxy Fold's unfolded large screen, which will enable people to compare the prices of these digital assets and make an instant investment decision quicker and clearer.

“Together, Samsung and Crypto.com have optimised the Crypto.com App for the large screen experience, taking advantage of the foldable form factor, to bring a more productive way of using the app for the trading and analysis of cryptocurrencies,” Eric Anziani, President and Chief Operating Officer of Crypto.com said in an official statement.

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Founded in 2016, Crypto.com claims to have a userbase of over 80 million customers worldwide. Meanwhile, Samsung accounted for 62 percent of the foldable market in the first half of 2022, as per a CounterPoint report. The report had estimated the total foldable sales at nine million in 2021.

Collectively, both Samsung and Crypto.Com could bring in millions of people to try out the crypto sector. This is not the first time however, that Samsung has validated the digital assets sector despite the element of volatility that has kept the market reputation shadowed by financial risks.

In October 2022, Samsung's Latin American unit forayed into Decentraland to mark its presence in the metaverse space to increase the visibility of its brand in the fully functional virtual universe.

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In January 2022, the company had opened its own store in Decentraland and then in July last year, it launched another metaverse project called Space Tycoon as part of the Roblox platform.

Samsung Asset Management, the investment arm of the South Korean conglomerate also listed its Bitcoin Futures Exchange Traded Fund (ETFs) on the Hong Kong Stock Exchange.

The company is working to bring its Bitcoin mining chips into the trial production stage. There 3nm chips are reportedly around 23 percent to 45 percent more efficient than the chips manufactured on previous nodes.

Xiaomi launched its camera focussed flagship Xiaomi 13 Ultra smartphone, while Apple opened it's first stores in India this week. We discuss these developments, as well as other reports on smartphone-related rumours and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Further reading: Cryptocurrency, Samsung, CryptoCom, Crypto Trading

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More