Samsung is continuing its commitment to cryptocurrency technology with a new security chip. According to a press release released earlier today, Samsung has come up with an independent security solution to secure cryptocurrency transactions on smartphones and tablets. The solution consists of a chip (S3FV9RR Secure Element (SE and an upgraded software) designed to increase the security of the boot process, separate storage space, and mobile-based payments.
The new SE chip is powered by the Common Criteria (CC) EAL 6+ security standard, which is used in applications with the toughest security protocols, such as e-passports and cryptocurrency hardware add-ons. Therefore, it can be used on any smartphone, regardless of the type of processor. It is noteworthy that in this announcement, cryptocurrency transactions have been mentioned as one of the main goals of the S3FV9RR chip, which is expected to be available in the third quarter of 2020. Dongho Shin, vice president of marketing for LSI marketing at Samsung Electronics, said:

In this period of non-physical contact interactions, we expect our devices, including smartphones and tablets, to be very secure in protecting users' personal data and providing them with fintech activities such as mobile banking, stock trading and cryptocurrency trading.

Samsung's latest developments in cryptocurrencies
Samsung's interest in cryptocurrencies and blockchain is well known, as the company has invested in a number of DLT startups and integrated the technology into its products. Earlier this month, Samsung Pay partnered with Swipe Visa Card Platform, allowing users to make cryptocurrency payments through Samsung Pay-enabled devices. In February, Samsung unveiled its latest series of smartphones, the Galaxy S20, which reportedly improved blockchain integrated security features in the Galaxy S10.