According to a report by regional blockchain media Blockmedia on April 6, 2026, Viva Republica-operated South Korean fintech giant Toss is developing a proprietary Layer 1 (L1) blockchain mainnet and native cryptocurrency to fully integrate its payment, banking, and securities ecosystems on-chain. Toss currently boasts approximately 30 million registered users — nearly 60% of South Korea's population — with its super-app covering Toss Bank, Toss Securities, and Toss Payments.
Technical Roadmap: L1 or L2?
The report indicates Toss is weighing two technical paths: building a full L1 network from scratch, or deploying a Layer 2 (L2) solution on an existing chain. An internal source revealed the final decision hinges on the progress of Korea's Digital Asset Basic Act. The National Assembly has yet to enact the bill, and current transaction settlement and foreign exchange regulations complicate stablecoin issuance. Toss's entire blockchain recruitment and planning system is built around compliance preparation.
24 Stablecoin Trademarks and Web3 Wallet
The stablecoin task force, led by Chief Business Officer Kyuha Kim, filed 24 trademark applications for won-pegged stablecoins in June 2025, including “TOSSKRW.” Additionally, Toss confirmed it is developing a Web3 wallet directly integrated into its existing app — no separate download required. The wallet will support virtual asset storage, transfers, payments, and tokenized securities management. A company spokesperson stated: “We view digital asset-based financial infrastructure as a key future area and are actively recruiting talent, exploring partnerships, and considering technology acquisitions.”
‘Money 3.0’ Framework and Smart Contract Applications
At the March 2026 Seoul Blockchain Meetup conference, Toss’s corporate development director Changhoon Seo introduced the company's “Money 3.0” framework. The core concept leverages smart contracts for programmable money, aiming to build a borderless financial system free from currency, geographic, or time constraints, along with a stablecoin issuance and distribution strategy linked to real financial services. The demo included a proof-of-concept combining Toss’s SohoScore small business credit assessment model with smart contracts for automated lending. Owning the mainnet allows Toss to design its own fee structures and service rules, avoiding reliance on external chains or third-party governance changes.
Competitive Landscape and IPO Plans
Toss is not the only Korean crypto-adjacent firm building its own chain infrastructure. Upbit operator Dunamu is developing the Ethereum L2 network Kiwachain, while Hashed is advancing the won-stablecoin-focused L1 network Maru. Toss joins the race with its massive existing user base. The company is also reportedly exploring partnerships with KB Financial Group and Samsung Card. Toss achieved its first profitability in 2024, with consolidated revenue of 1.956 trillion won (approx. $1.4 billion), up 43% year-over-year. The firm plans a 2026 US IPO with a valuation target exceeding $10 billion. Mainnet launch dates and technical specifications remain undetermined; next steps depend on regulatory clarity and the internal L1/L2 architecture decision.