Toss, the South Korean fintech giant operated by Viva Republica, is preparing a massive pivot into the Web3 financial sector by developing its own blockchain mainnet and a suite of stablecoins. The company, which already serves approximately 30 million registered users—nearly 60% of South Korea’s population—aims to integrate on-chain financial services directly into its existing “super-app” ecosystem.
By moving toward a dedicated blockchain infrastructure, Toss seeks to gain direct control over transaction fees, governance, and application development, reducing its reliance on third-party networks. This strategic expansion follows a landmark year for the company; in 2024, Toss reported its first profitable year with a consolidated revenue of 1.956 trillion Korean won (approximately 1.4 billion USD), marking a 43% increase over the previous year.
The ambition extends beyond mere infrastructure. A specialized stablecoin task force, led by Chief Business Officer Kyuha Kim, has already begun laying the groundwork for a new digital currency regime. In June 2025, the company registered 24 different trademarks for Korean Won (KRW) stablecoins, including the prominent “TOSSKRW” brand, signaling an intent to bridge traditional fiat currency with programmable blockchain utility.
The Architectural Dilemma: Layer-1 vs. Layer-2
While the vision is clear, the technical execution remains a subject of internal debate. Toss is currently weighing two distinct paths: building a comprehensive Layer-1 (L1) network from the ground up or deploying a Layer-2 (L2) solution atop an existing blockchain. A Layer-1 approach would provide maximum autonomy and scalability, while a Layer-2 solution could offer a faster route to tokenization by leveraging established security frameworks.
The final decision is currently stalled by the legislative environment in Seoul. The company is waiting for the progress of South Korea’s pending Basic Act on Digital Assets. Until this regulatory framework is finalized, Toss remains in a consultative phase, ensuring that whichever architecture it chooses remains fully compliant with future national laws.
To prepare for this transition, Toss began an aggressive recruitment drive in February 2026. The company is actively hiring blockchain engineers specializing in wallet systems, API and transaction processing, node operations, cryptographic signatures, and financial compliance. This talent acquisition is paired with the development of an integrated Web3 wallet that will allow users to store virtual assets, execute payments, and manage tokenized securities without needing to download a separate application.
„Wir betrachten die auf digitalen Vermögenswerten basierende Finanzinfrastruktur als einen wichtigen Zukunftsbereich und bereiten uns darauf vor. Wir rekrutieren aktiv talentierte Mitarbeiter mit einschlägiger Fachkompetenz und prüfen umfassend Kooperationen mit verschiedenen Partnerunternehmen, wobei wir den Erwerb von Technologien priorieren.“
Money 3.0 and Programmable Finance
At the Seoul Blockchain Meetup Conference in March 2026, Corporate Development Director Seo Chang-whoon introduced the “Money 3.0” framework. This vision centers on “programmable money” powered by smart contracts, designed to remove the traditional barriers of currency, geography, and time from financial services.
One tangible example of this framework is a proof-of-concept linking the SohoScore credit model—used for small businesses—with smart contracts to enable automated lending. By automating the credit-to-disbursement pipeline, Toss intends to create a more efficient, transparent lending environment for entrepreneurs.
Industry experts suggest that owning the mainnet is the only way to achieve this level of integration. Professor Seokjin Hwang of Dongguk University noted that independent infrastructure eliminates external dependencies and improves business scalability. Conversely, Seungik Yoon of Tiger Research suggested that a tailored L2 could accelerate the initial rollout of tokenized assets.
The Competitive Landscape in South Korea
Toss is entering a crowded field of corporate blockchain ambitions. Several other major Korean players are racing to establish their own chain infrastructures to capture the burgeoning Web3 market.
| Company | Project Name | Architecture | Primary Focus |
|---|---|---|---|
| Toss | TBD (Mainnet) | L1 or L2 (Under Review) | Super-App Integration & KRW Stablecoins |
| Dunamu (Upbit) | Kiwachain | Ethereum L2 | Exchange Ecosystem Expansion |
| Hashed | Maru | Layer-1 | KRW Stablecoin Infrastructure |
While Dunamu and Hashed have established technical directions, Toss holds a significant advantage in its existing user base. Integrating Web3 tools into an app already used by 60% of the population creates a lower barrier to entry for the general public than launching a standalone blockchain product.
Regulatory Hurdles and Strategic Partnerships
Despite the technical momentum, the path to “Money 3.0” is blocked by significant legal obstacles. Current South Korean laws regarding trade settlement and foreign exchange transactions build the issuance of stablecoins complex. Toss has explicitly aligned its recruitment and planning efforts to prioritize regulatory compliance over speed of launch.
To navigate these waters, Toss is exploring strategic alliances with traditional financial powerhouses. The company is reportedly reviewing partnerships with KB Financial and Samsung Card to integrate its digital asset infrastructure. As of this writing, neither KB Financial nor Samsung Card has issued a public statement regarding these discussions.
These partnerships are critical as Toss eyes a broader global horizon. The company is targeting a U.S. Initial public offering (IPO) in 2026, with an expected valuation exceeding 10 billion USD. A successful transition into Web3 could serve as a primary growth narrative for investors during the listing process.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice.
The next critical checkpoint for Toss will be the legislative movement on the Basic Act on Digital Assets in South Korea, which will dictate whether the company commits to a Layer-1 or Layer-2 architecture. A confirmed start date for the mainnet has not yet been announced.
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