South Korea's fintech giant Toss (operated by Viva Republica) is developing a proprietary layer one (L1) blockchain mainnet and a native cryptocurrency to integrate its payment, banking, and securities ecosystem. According to a report from local blockchain outlet Blockmedia on April 6, 2026, the move marks a significant step toward Web3 financial infrastructure.
30 Million User Super App Goes Onchain
Toss serves approximately 30 million registered users—close to 60% of South Korea's population. Its super app already includes Toss Bank, Toss Securities, and Toss Payments. A self-built mainnet would give the company direct control over transaction fees, governance, and application development, reducing reliance on external chains.
L1 vs. L2 Decision Hinges on Regulatory Progress
According to Blockmedia, Toss is evaluating two technical paths: building a full L1 network from scratch, or deploying a layer two (L2) solution on an existing chain. An internal source said the final decision will depend on the progress of South Korea's Digital Asset Basic Law, which has not yet been enacted. Current trade settlement and foreign exchange regulations also complicate stablecoin issuance.
Stablecoin Task Force Files 24 Trademarks
A dedicated stablecoin task force led by Chief Business Officer Kyuha Kim is already operational. In June 2025, Toss filed trademarks for 24 Korean won stablecoin names, including 'TOSSKRW'. Since February 2026, the company has been recruiting blockchain engineers for roles covering wallet systems, API and transaction processing, node operations, cryptographic signing, and financial compliance.
Toss also confirmed the development of a Web3 wallet built directly into the existing app, requiring no separate download. The wallet will support virtual asset storage, transfers, payments, and tokenized securities management.
‘Money 3.0’ Framework and Partnerships
At the Seoul Blockchain Meetup Conference in March 2026, Corporate Development Director Seo Chang-whoon introduced the company's 'Money 3.0' framework. Key concepts include programmable money using smart contracts, borderless finance unrestricted by currency, geography, or time, and a stablecoin issuance and distribution strategy tied to real financial services. A proof-of-concept demonstrated linking its SohoScore small-business credit model with smart contracts for automated lending.
Experts cited by Blockmedia noted that owning a mainnet allows Toss to design its own fee structure and service rules, avoiding dependence on external chains or exposure to third-party governance changes. Professor Seokjin Hwang of Dongguk University remarked that independent infrastructure avoids external dependencies and improves business scalability. Seungik Yoon of Tiger Research explained that a custom L2 on a proven network could enable faster tokenization.
Toss is not alone in pursuing proprietary chain infrastructure. Dunamu (operator of Upbit) is developing Kiwachain, an Ethereum L2 network. Hashed is advancing Maru, an L1 focused on Korean won stablecoins. Toss enters this competition with a substantially larger existing user base.
The company also disclosed exploratory partnerships with KB Financial and Samsung Card as part of its digital asset infrastructure plans. Neither firm has made public statements on those discussions.
Financial Performance and IPO Plans
Toss reported its first profitable year in 2024, with consolidated revenue of 1.956 trillion Korean won (approximately $1.4 billion), a 43% increase year-over-year. The company is targeting a U.S. IPO in 2026 at a valuation above $10 billion. No launch date or technical specifications for the mainnet have been confirmed. Plans remain in the discussion phase, with next steps dependent on regulatory clarity and the internal decision on L1 versus L2 architecture.