Toss Bank is teaming up with the Solana Foundation to see whether stablecoins can power cheaper, faster global money transfers. The partnership is the first direct one‑to‑one deal between a South Korean internet‑only bank and the Solana ecosystem.
How Toss Bank Plans To Use Solana
Toss Bank said it signed a strategic memorandum of understanding with the Solana Foundation at its Seoul office on June 19. The bank described the agreement as a plan for cooperation on blockchain‑based next‑generation financial infrastructure, starting with cross‑border remittances. It also confirmed that this is “the first time a Korean internet bank has entered into direct cooperation with the Solana Foundation.”
In the first phase, the two sides will run a proof‑of‑concept to test Solana‑based stablecoin remittances. Toss Bank will design the user experience and connect its existing overseas transfer service to Solana’s high‑throughput network to measure speed, cost, and reliability. The goal is to determine whether a blockchain layer can sit atop current banking rails without compromising compliance or service levels.
According to reports, later stages could add overseas partners and shared anti‑money laundering and know‑your‑customer checks across the system. The project will also review other payment and settlement models using stablecoins and tokenized assets, not just basic remittances. If tests go well, Toss Bank says it plans to expand blockchain support across a wider range of digital finance products.
Why Solana And Why Now
Wu Blockchain noted that Toss Bank is South Korea’s third‑largest internet‑only bank, serving around 15 million customers. By tapping Solana, the bank hopes to offer those users cross‑border transfers that feel closer to instant messaging than to today’s slow wire systems. Solana’s team highlighted the partnership as a major step toward “faster, cheaper cross‑border transactions” for regulated institutions.
The deal also fits into a broader South Korean push to build a stablecoin‑ready payments stack. Earlier this year, Shinhan Card and Woori Bank each announced separate stablecoin and Solana‑linked pilots, and the Solana Foundation has worked with Wavebridge on a Korean won‑pegged stablecoin for banks. As these projects move from tests to real services, they could help make stablecoin rails feel normal inside banking apps rather than something that only lives on crypto exchanges.
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