- Gemini exchange has integrated the Samsung crypto wallet into their mobile exchange
- Gemini is the first exchange to integrate the wallet
- Samsung has released a new secure enclave, which is the chip on which the crypto wallet resides
Gemini exchange has integrated the Samsung crypto wallet into its mobile platform, the first exchange to do so. Samsung announced their crypto wallet in February last year, with Enjin providing the software, marking the first time a mainstream phone manufacturer had dabbled with blockchain wallets. Gemini will now let U.S. and Canadian users view Samsung crypto wallet balances in their app and trade through Gemini’s mobile app, reducing the steps required to connect one to the other.
Exciting news! Gemini Mobile App is now the first #cryptoexchange to be linked into Samsung Blockchain Wallet in the US and Canada!
Samsung Blockchain Wallet brings secure cryptocurrency management to mobile and we are proud to be their trusted partner: https://t.co/m3fgfhBQri pic.twitter.com/VbtZZcOwJL
— Gemini (@Gemini) May 28, 2020
Samsung and Gemini’s Groundbreaking Partnership
The arrival of a Samsung crypto wallet last year was a massive step in blockchain adoption and was extremely well received, although development had somewhat stalled since then, particularly with regard to integrating it with existing exchanges.
This linkup, which allows Gemini users to trade cryptocurrencies directly from within the Samsung blockchain wallet, cuts out the need for users to send their funds to the exchange first, increasing the security of their funds immeasurably. This is the kind of development the community has been waiting for since the announcement of the Samsung blockchain wallet, and hopefully it will pave the way for deals with other exchanges and DeFi platforms.
Tyler Winklevoss, co-founder and CEO of Gemini, spoke of the company’s pride in linking up with the tech giant:
Crypto is not just a technology, it is a movement. We are proud to be working with Samsung Blockchain to bring crypto’s promise of greater choice, independence, and opportunity to more individuals around the world.
Samsung Crypto Wallet Secure Enclave Gets and Upgrade
The Samsung crypto wallet, which will feature on the Galaxy S20 Series and Galaxy Z Flip phones, makes use of the ‘secure enclave’, a physical chip inside the phone that is remote from most of the phone’s other connectivity to ensure maximum security and reduce the chances of a breach.
Samsung recently announced an upgrade to their first generation of secure enclave chips which will offer enhanced protection of mobile payments and cryptocurrency transactions, strengthening the phone’s defenses against reverse engineering, power glitches, and laser attacks. These new phones, and the specialist blockchain phones coming out from the likes of HTC, show that smartphone blockchain wallets are becoming as secure as specialist crypto hardware wallets as well as more versatile.