Solana Partners with $20B IPO-Bound Toss Bank for Stablecoin Remittance, Payments, Tokenization
Toss Bank, South Korea’s third-largest internet-only bank, has partnered with the Solana Foundation to test cross-border remittance and settlement using the Solana blockchain, with plans to expand into payments, stablecoin integration, and real-world asset (RWA) tokenization.
The bank signed a Memorandum of Understanding (MOU) with the Solana Foundation to conduct a proof of concept (PoC) for global remittance and settlement infrastructure based on the Solana network. It will also assess the use of stablecoins for overseas transfers.
This marks the first direct collaboration between a South Korean internet-only bank and the Solana ecosystem. After the initial remittance PoC, Solana Foundation and Toss Bank will explore further applications of blockchain infrastructure, including payments, digital assets, and tokenized RWA assets.
Solana’s faster finality and low fees make it particularly suited for high-volume, instant settlement compared to traditional financial rails.
Chaerin Kim, Solana Foundation’s head of strategic partnerships, called Toss “one of the biggest innovators in Korean fintech” and expressed excitement about collaborating with the team.
The deal comes as Toss Bank’s parent company Viva Republica prepares for a major US IPO in 2026, with a planned valuation of over $10 billion amid strong growth across banking, payments, and securities. The bank’s push into Web3 aligns with South Korea’s growing crypto adoption and tightening regulation, including new foreign exchange controls on crypto transfers starting December this year.
SOL price rose 2% on the news to trade at $74, with trading volume increasing by 15% over the last 24 hours.