Samsung Pay accounts for nearly 80 percent of the market payments in South Korea.  Cryptocurrency integration is considered to be an essential strategy for Samsung to expand on its user base.

A significant percentage of the South Korean population is keen on cryptocurrencies.  Samsung has previously established its blockchain task force to execute a lot of its initiatives.  This included the action of its blockchain wallet.  The cryptocurrency wallet was integrated into the Galaxy S10 device with support for the Ethereum-based tokens.

The blockchain task force of Samsung has recently been transitioned to a full-blown business division, and the company is furthering on Samsung’s positive stance on the cryptocurrencies.

There is widespread speculation that Samsung might be using the blockchain technology for their Samsung Pay transactions as a method to reduce the fees.  Samsung is already exploring the possibility of launching its blockchain network, with their token on the Ethereum blockchain.  It is expected that the tech giant will expand its business scope.

It is expected that the company will become a significant player in the Fintech industry by targeting the global financial services market through the development of the Samsung Wallet, integration of crypto assets with Samsung Pay, and developing their blockchain network.

South Korea has been well known for being crypto forward.  They have an impressive roadmap to integrate cryptocurrencies into different industries like hospitals, transportation, and banks.  They have partnered with several known names in the Finance industry.

The blockchain project, when joined with the network, creates a living organism, a residing cryptocurrency ecosystem.

The highest numbers of visitors to the cryptocurrency industry are seen in the US, Japan, and South Korea.  Regardless of the lag in the cryptocurrency regulation systems in the US, the country has the leading numbers of visitors.

Japan has provided cryptocurrency with the recognition of a legal tender ever since 2017.  Therefore, Japan comes second in terms of user visits to the cryptocurrency exchanges.

And the third in the ranks is South Korea for the most numbers of visits by users to the cryptocurrency exchanges.

The UK reportedly has 4 million monthly visits to the cryptocurrency exchanges, and Russia ranks the 5^th in the list with 3 million visits in a month.  Vietnam, Brazil, and Turkey come up in the list of the top ten.

The regulatory framework is not clearly defined in several countries.  This has not affected the cryptocurrency trading process in a bit in most of the countries.