South Korean fintech giant Toss is taking a serious step into Web3 by testing a won-pegged stablecoin with major partners. The company signed a strategic agreement with Optimism and Sunnyside Labs to validate OP Stack-based infrastructure for the Korean market.
Toss, Optimism, and Sunnyside Labs will run a three‑month proof‑of‑concept for a KRW‑linked stablecoin. The work fits into Toss’s “Money 3.0” strategy, which aims to build payment and remittance rails on top of stablecoins instead of relying only on bank transfers. During the test, the partners will see whether the OP Stack can support domestic, compliance‑first digital finance infrastructure.
The proof‑of‑concept focuses on three questions. First, it asks whether banks and other institutions can directly control settlement and clearing on the network. Second, it checks if know‑your‑customer and anti‑money‑laundering rules can be enforced at the protocol level. Third, it examines whether individual transaction data can remain private even when transactions run on a public blockchain.
Using OP Stack and Privacy Tech
Optimism’s OP Stack gives Toss tools to build its own chain while still relying on Ethereum’s security. The stack supports cheaper, faster transactions and lets enterprises launch custom networks rather than relying solely on shared public chains. In this partnership, Optimism supplies the core blockchain technology, and Sunnyside Labs adds privacy tools called “Privacy Boost.”
Privacy Boost hides sensitive data, such as balances and transaction histories, from outsiders while still allowing regulated institutions to see the required information. Toss says it wants “Ethereum-level trust and security” while tailoring the system to Korean currency and local services. The company also plans to connect this future chain to other networks so assets and payments can move easily across ecosystems.
In a statement about the partnership, Toss Chief Business Officer Kyu-ha Kim said, “For Web3 technology to be successfully integrated into institutional finance, strict regulatory compliance and robust privacy protection are essential.”
He added that Toss will use Optimism’s OP Stack to validate the possibility of building a compliance-driven digital financial infrastructure optimized for the Korean market.
Toss, run by Viva Republica, already serves about 30 million users and links to more than 500,000 online and offline merchants. It is building its own blockchain and has registered 24 trademarks for KRW stablecoins, including names such as “TOSSKRW.” The firm is also developing a Web3 wallet inside its super app to deliver on-chain services straight to regular users.
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