The South Korean financial technology landscape is experiencing a significant shift as Toss, operated by Viva Republica, is developing a proprietary layer one (L1) blockchain mainnet and native cryptocurrency to integrate across its payment, banking, and securities ecosystem. This development represents a strategic pivot toward decentralized finance infrastructure for the company that serves nearly 30 million users.
The fintech giant's blockchain ambitions extend beyond simple infrastructure development. In June 2025, Toss filed trademarks for 24 Korean won stablecoin names, including "TOSSKRW." This move suggests comprehensive preparations for launching digital currency products that could transform how South Koreans interact with digital payments. The company has been actively recruiting blockchain talent since February 2026, indicating serious commitment to this technological transformation.
The regulatory environment remains a key consideration in Toss's planning. South Korea's pending Digital Asset Basic Law has delayed final decisions on whether Toss pursues an L1 or L2 approach. This uncertainty reflects broader challenges facing Web3 infrastructure development in major markets, where regulatory clarity often determines technical architecture decisions. According to the report from Blockmedia, Toss's next steps will depend significantly on both regulatory developments and internal strategic decisions about blockchain layer architecture.
