South Korean fintech giant Toss eyes launching native cryptocurrency: report
Toss, a South Korean fintech giant, is reportedly planning to develop its own blockchain network and cryptocurrency.Summary
South Korean payment and banking giant Toss is reportedly considering the development of its own blockchain network and a native cryptocurrency. According to a report from local outlet Blockmedia, Toss is exploring the launch of a cryptocurrency on a Layer 1 mainnet, with the potential for a Layer 2 network to enhance scalability. The decision is reportedly pending the finalization of South Korea's Digital Asset Basic Act, which will govern token issuance, stablecoins, and crypto ETFs. This move aligns with a broader trend of South Korean institutions developing Web3 products, often involving Korean won stablecoins, to prepare for the future of digital finance. Toss has previously filed trademark applications related to stablecoins and is developing a Web3 wallet integrated with its mobile platform.
(Source：The Block)