Toss collaborates with Optimism for KRW stablecoin POC, accelerating payment ecosystem innovation

On July 8, 2026, South Korean fintech giant Toss signaled a significant shift in its blockchain strategy by launching a Proof of Concept (POC) for a KRW-pegged stablecoin on the Optimism network. This project, conducted in collaboration with Sunnyside Labs, is seen as a key move by Viva Republica—which is preparing for a $20 billion Initial Public Offering (IPO)—to integrate Ethereum Layer 2 infrastructure into the domestic payment ecosystem.

This POC focuses on examining the practical feasibility of a payment system using KRW-based stablecoins. In particular, Sunnyside Labs, a company specializing in privacy solutions, will participate to establish technical measures that enhance the security and privacy of stablecoin transactions. This is evaluated as an attempt to overcome the limitations of existing financial systems and propose a new blockchain-based payment standard.

Toss aims to utilize Optimism's Superchain infrastructure to build a KRW payment layer that is more efficient and transparent than existing financial networks.

This is not Toss's first blockchain experiment. In April 2026, Toss collaborated with the Solana Foundation to promote a pilot project for stablecoin remittances and tokenized Real World Assets (RWA). Toss is employing a multi-chain strategy, exploring both Optimism and Solana simultaneously to find the most optimized blockchain architecture for domestic and international payments and settlements.

Phase 2 Digital Asset Legislation and Regulatory Response

This movement is gaining further attention as it aligns with the 'Digital Asset Phase 2 Legislation' framework, which the South Korean Financial Services Commission (FSC) plans to finalize in the first quarter of 2026. The new regulatory proposal requires stablecoin issuers to have strict capital requirements and advanced IT security facilities, and Toss plans to preemptively meet these legal standards through this POC. The table below summarizes the key contents of the upcoming stablecoin regulatory framework.

• Possession of at least 5 billion KRW (approximately 3.5 million USD) in equity capital
• Obtaining official issuance permission from the Financial Services Commission (FSC)
• Establishment of appropriate IT systems and conflict of interest prevention frameworks
• Securing professional personnel and complying with operational infrastructure standards

Toss is accelerating infrastructure construction to meet the technical standards required by regulatory authorities. In particular, it is strengthening internal control systems aligned with the FSC's guidelines to minimize risks that may arise during the stablecoin issuance and distribution process. This is a strategic preparation process to prove its stablecoin operation capabilities within the institutional system and secure formal business rights in the future.

This move by Viva Republica is also a strategic positioning to maximize corporate value ahead of its planned US market IPO in 2026. For Toss, which aims to be valued at over 20 billion USD, preoccupying Web3 technology and stablecoin infrastructure is a key element in strengthening its narrative as a global financial innovation company. Investors are paying attention to how Toss will evolve the existing fintech model through blockchain.

Currently, the size of South Korea's payment market is reaching 1.34 trillion USD as of 2026, with continuous growth expected over the next five years. As the flow of capital moves from simple retail speculation to institutional-grade settlement layers, KRW-pegged stablecoins are expected to become a key tool for targeting this massive market. Toss is envisioning a new settlement model that replaces existing card networks by combining mobile wallets with tokenized payment networks.

Recently, despite a decrease in trading volume, the inflow of institutional funds centered on stablecoins is accelerating in the domestic virtual asset market. Analysis suggests that from early 2026, the trading proportion of KRW-based exchanges has been shifting from retail-centric to institutional settlement layers. These market changes are interpreted as a positive signal that increases the possibility of commercial success for the stablecoin POC pursued by Toss.

In conclusion, the collaboration between Toss and Optimism is expected to be an important milestone leading the adoption of blockchain in the domestic fintech industry. The final passage of the Digital Asset Phase 2 bill and the results of the Optimism infrastructure test will be key variables determining the timing of Toss's stablecoin commercialization. Industry attention is focused on whether Toss can move beyond the POC stage and successfully establish stablecoins in the actual payment market.