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