Toss Ventures into Web3 with New Mainnet and Stablecoin Branding
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In a significant development for South Korea’s fintech sector, Toss, the well-known financial technology platform operated by Viva Republica, is making strides toward launching its own blockchain mainnet and native cryptocurrency. This initiative aims to enhance the integration of services within its existing financial ecosystem, which already boasts a user base of 30 million, representing nearly 60% of the nation’s population.
Recent updates from Blockmedia indicate that Toss is evaluating whether to build a complete layer one (L1) blockchain from the ground up or to adopt a layer two (L2) solution on top of an established blockchain. The company’s decision-making process is intertwined with the progress of South Korea’s upcoming Digital Asset Basic Law, which continues to influence strategic directions in the digital finance landscape.
Established as a comprehensive super app, Toss currently operates multiple financial services, including Toss Bank, Toss Securities, and Toss Payments. The introduction of a dedicated mainnet would allow the company greater autonomy in managing transaction fees, governance structures, and application development, thereby fostering a more robust on-chain finance environment.
To bolster this effort, Toss formed a Stablecoin Task Force led by its Chief Business Officer, Kyuha Kim, which has been proactive since June 2025 in filing for 24 trademarks dedicated to Korean won stablecoins, including one named “TOSSKRW.”
In an exciting move toward Web3, Toss has also confirmed the development of a wallet feature incorporated within its app, designed for seamless virtual asset management, transfers, and the handling of tokenized securities. This innovation promises to simplify user interactions with digital currencies.
A spokesperson for Toss emphasized the company’s commitment to fostering an advanced digital asset infrastructure. They pointed out ongoing recruitment efforts to bring in experts with relevant skills, underscoring the intention to form alliances with various technological partners.
During the recent 2026 Seoul Blockchain Meetup Conference, the Corporate Development Director, Seo Chang-whoon, shared insights into their “Money 3.0” concept which revolves around programmable currencies and unrestricted financial transactions through smart contracts. The model aims to connect with real-world financial services, signifying a transformative approach to financial operations.
With Toss actively pursuing the independence that an L1 blockchain could provide, experts have noted that this will enhance scalability and reduce reliance on external networks, offering a competitive advantage in the increasingly crowded digital finance arena. Competition is heating up, as other companies like Dunamu and Hashed are also exploring their proprietary blockchain solutions.
However, regulatory challenges persist. The absence of the Digital Asset Basic Law hampers the clarity necessary for stablecoin issuance and trade settlements, which further complicates Toss’s path. Nevertheless, the company remains focused on compliance as it navigates this complex landscape.
In addition to its infrastructure plans, Toss is reportedly exploring potential partnerships with major entities like KB Financial and Samsung Card, both of which have yet to comment on these discussions. With a successful first profitable year in 2024 and eyes set on a U.S. IPO, Toss is poised to make waves in the financial technology sector.
While no launch date for the mainnet has been disclosed, the company’s ongoing discussions and future steps hinge on regulatory developments and strategic assessments regarding its blockchain approach.
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Gregory Russell
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