Coinbase Global COIN is expanding its stablecoin distribution through a partnership with Samsung, bringing USD Coin (USDC) to Samsung Wallet users in the United States. The service is expected to launch in the last week of October 2026, with USDC as the default dollar stablecoin. Coinbase will provide subcustody through Coinbase Prime, alongside licensed infrastructure partner Bastion.
Samsung’s broad consumer reach could help Coinbase introduce USDC to users beyond its existing crypto customer base. Integrating stablecoins into a familiar digital wallet could encourage adoption for payments and cross-border transfers, strengthening Coinbase’s position in the digital payments ecosystem.
The opportunity is supported by rising adoption. In the second quarter of 2026, average USDC balances held in Coinbase products reached a record $20 billion, up 44% year over year. More than 30% of circulating USDC was held in Coinbase products at quarter-end.
Wider adoption could create opportunities across custody, payments and other stablecoin-related services. It may also support activity on Base, Coinbase’s Layer-2 blockchain network, if users transact through services connected to the network.
However, greater adoption will not automatically translate into higher earnings. The financial impact will depend on customer activity, transaction volumes, operating costs and revenue-sharing arrangements. If the partnership generates sustained usage, it could broaden Coinbase’s distribution and support revenue diversification beyond trading fees.
What Are Competitors Doing?
PayPal Holdings PYPLis broadening the reach of its PYUSD stablecoin through its established consumer and merchant network. Wider availability could support cross-border transfers and digital payments, helping PayPal connect traditional payment services with blockchain-based transactions.
Circle Internet Group CRCL is expanding USDC adoption through partnerships that integrate stablecoin payments into existing business systems. On Oct. 7, 2026, Circle announced a partnership with Tereina to integrate USDC and EURC into enterprise workflows, starting with the SAP ecosystem. Wider USDC integration across consumer wallets, including Samsung Wallet, could increase stablecoin adoption and strengthen demand for Circle’s ecosystem.
COIN’s Price Performance
Shares of COIN have lost 55.5% in the past year compared with the industry decline of 27.9%.
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COIN’s Valuation
COIN trades at a price-to-earnings ratio of 74.44, significantly above the industry average of 15.11.
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Estimate Movement for COIN
The Zacks Consensus Estimate for COIN’s 2026 and 2027 earnings per share (EPS) witnessed upward movement in the last 30 days.
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The consensus estimate for COIN’s 2026 revenues and earnings indicates a year-over-year decrease. Meanwhile, the consensus estimate for 2027 revenues and earnings implies a year-over-year increase.
COIN stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Coinbase Global, Inc. (COIN): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).