Toss Explores Blockchain Mainnet to Power Next-Generation Financial Services

The fintech company Toss serves approximately 30 million registered users, representing nearly 60% of the South Korean population. Toss already operates Toss Bank, Toss Securities, and Toss Payments under a single super-app. A blockchain mainnet would extend this infrastructure to on-chain financial services and give the company direct control over fees, governance, and application development.

Blockmedia reported that Toss is considering two approaches: building a complete Layer 1 (L1) network from scratch or deploying a Layer 2 (L2) solution based on an existing blockchain. An internal source told the outlet that the teams are still deliberating and the final decision depends on the progress of South Korea’s Digital Asset Basic Law.

A dedicated stablecoin task force, led by Chief Business Officer Kyuha Kim, is already operating within the company. In June 2025, Toss registered trademarks for 24 stablecoin names in Korean won, including “TOSSKRW”. The company has been recruiting blockchain engineers since February 2026 and has advertised positions covering wallet systems, API and transaction processing, node operations, cryptographic signatures, and financial compliance.

Toss also confirmed that it is developing a Web3 wallet that is directly integrated into the existing app and requires no separate download

The wallet would support the storage of virtual assets, transfers, payments, and the management of tokenized securities. A company spokesperson confirmed this direction in a statement:

“We view digital asset-based financial infrastructure as an important area for the future and are preparing for it. We are actively recruiting talented employees with relevant expertise and are thoroughly examining collaborations with various partner companies, prioritizing the acquisition of technologies.”

At the “Seoul Blockchain Meetup Conference 2026” in March, Seo Chang-whoon, Corporate Development Director, presented the company’s “Money 3.0” framework. The concept focuses on programmable money using smart contracts, borderless financial services without restrictions regarding currency, geography, or time, and a strategy for issuing and distributing stablecoins linked to real-world financial services.

The presentation included a proof of concept linking the SohoScore small business lending model with smart contracts for automated loan origination. Owning a mainnet gives Toss the ability to design its own fee structure and service rules, thus avoiding dependence on external blockchains or the risk of changes due to third-party governance.

Experts quoted by Blockmedia pointed out that this is a crucial advantage over building on public networks. Professor Seokjin Hwang of Dongguk University noted that an independent infrastructure avoids external dependencies and improves business scalability. Seungik Yoon of Tiger Research explained that a custom Layer 2 on a proven network could enable faster tokenization.

Toss isn’t the only Korean company in the crypto space aiming for its own blockchain infrastructure. Dunamu, operator of Upbit , is developing Kiwachain, an Ethereum L2 network. Hashed is pushing forward with Maru, an L1 network focused on stablecoins in Korean won. Toss would enter this competition with a significantly larger existing user base.

Regulatory frameworks remain a hurdle. South Korea has yet to enact a constitution governing digital assets, and current laws on trade settlement and foreign exchange make issuing stablecoins difficult.

According to the report, Toss has focused all its blockchain recruitment and planning efforts on regulatory compliance. The company also stated that it is exploring partnerships with KB Financial and Samsung Card as part of its digital asset infrastructure plans. Neither company has publicly commented on these discussions.

Toss reported its first profitable year in 2024, with consolidated revenue of 1.956 trillion Korean won (approximately US$1.4 billion), representing a 43% increase year-over-year. The company is aiming for a US IPO in 2026 with a valuation exceeding US$10 billion.

A launch date or technical specifications for the mainnet have not yet been confirmed. The plans are still in the discussion phase, and the company’s next steps depend on both regulatory clarity and an internal decision regarding the L1 or L2 architecture.

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(Featured image by Shubham Dhage via Unsplash)

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