Solana Partners $20B IPO-Bound Toss Bank for Stablecoin Remittance, Payments, Tokenization
Highlights
- Solana Foundation has partnered with South Korea's leading Toss Bank.
- The bank will use Solana for cross-border remittance, stablecoin use, payments, and tokenization.
- This comes amid growing regulation in S. Korea and parent company Viva Republica's US IPO.
Toss Bank, South Korea’s third-largest internet-only bank, has partnered with the Solana Foundation. The bank will use Solana for its cross-border remittance and settlement proof of concept (PoC), exploring stablecoin integration, payments, and RWA tokenization in phases.
Solana Foundation Announces Major Partnership with IPO-Bound Toss Bank
Toss Bank signed a Memorandum of Understanding (MOU) with the Solana Foundation. The bank will test global remittance and settlement infrastructure based on the Solana network and assess the potential use of stablecoins in overseas remittances.
This marks the first direct collaboration between a South Korean internet-only bank and the Solana ecosystem. After remittances, Solana Foundation and Toss Bank will work on further plans to apply blockchain infrastructure to payments, digital assets, and tokenized RWA assets.
The collaboration will begin with a PoC focused on global remittances and overseas stablecoin transfers using the Solana blockchain. Solana’s faster finality and low fees make it particularly suited for high-volume, instant settlement as compared to traditional rails.
Mom, I did it! 2🥹
Toss (Bank) has been one of the biggest innovators in Korean fintech and is probably the project closest to my everyday life outside of web3.
It’s also the financial app I use more than anything else.
Super excited and grateful to be working alongside a team… https://t.co/FZFuA5k5zB
— Chaerin Kim (@decentra1ized_) June 22, 2026
Bank’s IPO and Crypto Adoption
The deal comes as Toss Bank’s parent company Viva Republica prepares for a major US IPO in 2026. The firm plans the IPO at a valuation of more than $10 billion amid strong growth and expanding services across banking, payments, and securities.
Toss Bank is also advancing its Web3 plans as South Korea continues to see growing crypto adoption and regulation. Notably, South Korea plans to impose foreign exchange controls on crypto transfers starting in December this year.
The Toss Bank-Solana MOU represents a significant step in bridging traditional finance with blockchain amid global tokenization push. This sets the stage for further adoption of crypto by South Korea’s tradFi.
Meanwhile, SOL price rebounded amid the news and currently trades 2% higher at $74. The 24-hour low and high are $72.38 and $74.75, respectively. Furthermore, trading volume has increased by 15% over the last 24 hours as US-Iran peace talks advance.
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