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What Is Samsung Coin? Everything We Know About Samsung's Cryptocurrency

Samsung Coin. That's the name of the Cryptocurrency the South Korean tech titan is said to have been developing for the better part of a year now. But what is it? How far along is it in development? And when will it launch? Here's everything we know. 

We first caught wind of Samsung Coin back in April when it was revealed that Samsung had started building the framework for a Blockchain mainnet, noting that it will be locked down when it first launches, but could be opened to the public soon thereafter.

Then word surfaced that the token would be Ethereum-based, sparking speculation that it Samsung is hoping to float it on exchanges alongside Bitcoin (BTC) and Ethereum (ETH), and other Ethereum-rooted tokens like Basic Attention Token (BAT).

Related: Where Can You Spend Bitcoin?

Here's the kicker: The same source that was responsible for CoinDesk Korea's revelation in April also revealed that Samsung is working on a number of related services to launch alongside Samsung Coin, though there's no word on what they are or what they do.

There's little reason to doubt the rumors; Samsung has shown great deal of interest in Cryptocurrency, developing a Cryptocurrency Wallet of its own, called Blockchain KeyStore. It's also poured $2.9 million into Cryptocurrency Wallet startup Ledger.

Want to learn more about Cryptocurrency? Check out our Beginner's Guide.