According to a report by South Korean blockchain media Blockmedia on April 6, 2026, fintech giant Toss, operated by Viva Republica, is developing a proprietary Layer 1 (L1) blockchain mainnet and a native cryptocurrency to integrate its payment, banking, and securities ecosystem onto the blockchain. This move marks a significant step for Korea's largest super app toward Web3 financial infrastructure.
30 Million Users and Super App Ecosystem
Toss currently serves approximately 30 million registered users, nearly 60% of South Korea's population. Its ecosystem already includes Toss Bank, Toss Securities, and Toss Payments, forming a comprehensive financial super app. By building its own blockchain mainnet, Toss aims to directly control transaction fees, governance, and application development, reducing reliance on external public chains.
Internal sources cited by Blockmedia indicate that Toss is evaluating two technical paths: building a full L1 network from scratch or deploying a Layer 2 (L2) solution on top of an existing chain. The final decision hinges on the progress of South Korea's pending Digital Asset Basic Law, which has not yet been enacted, preventing the company from finalizing its architectural choice.
Stablecoin Task Force and 24 Trademark Filings
Toss has established a dedicated Stablecoin Task Force led by Chief Business Officer Kyuha Kim. In June 2025, the company filed trademarks for 24 Korean won stablecoin names, including “TOSSKRW.” Since February 2026, Toss has been actively recruiting blockchain engineers for roles covering wallet systems, API and transaction processing, node operations, cryptographic signing, and financial compliance.
Additionally, Toss confirmed development of a Web3 wallet directly integrated into its existing app, requiring no separate download. The wallet will support virtual asset storage, transfers, payments, and tokenized securities management.
“Money 3.0” Framework and Smart Contract Use Cases
At the Seoul Blockchain Meetup Conference in March 2026, Toss Corporate Development Director Seo Chang-whoon introduced the company's “Money 3.0” framework. The concept centers on smart contract-based programmable money, borderless finance (unrestricted by currency, geography, or time), and a stablecoin issuance and distribution strategy tied to real financial services.
A proof-of-concept was presented linking Toss's small-business credit scoring model SohoScore with smart contracts for automated lending. Owning a mainnet allows Toss to design its own fee structure and service rules, avoiding dependence on external chains and exposure to third-party governance changes.
Professor Seokjin Hwang of Dongguk University noted 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.
Market Competition and Regulatory Hurdles
Toss is not the only Korean crypto-adjacent company pursuing proprietary chain infrastructure. Dunamu, operator of Upbit, is developing the Ethereum L2 network Kiwachain, while venture capital firm Hashed is advancing the L1 network Maru focused on Korean won stablecoins. Toss enters this competition with a substantially larger existing user base.
Regulatory conditions remain a constraint. South Korea has not yet enacted the Digital Asset Basic Law, and current trade settlement and foreign exchange laws complicate stablecoin issuance. Toss has structured its entire blockchain recruitment and planning effort around compliance readiness. The company also disclosed it is exploring partnerships with KB Financial and Samsung Card as part of its digital asset infrastructure plans, though neither firm has made public statements.
Financial Performance and IPO Target
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, and the company's next steps depend on both regulatory clarity and an internal decision on L1 versus L2 architecture.