Key Takeaways:
- Toss, operated by Viva Republica, is building an L1 blockchain mainnet and native coin to power its 30 million-user financial platform.
- South Korea’s pending Digital Asset Basic Law has delayed final decisions on whether Toss pursues an L1 or L2 approach.
- A Stablecoin Task Force led by Chief Business Officer Kyuha Kim filed 24 KRW stablecoin trademarks in June 2025, including “TOSSKRW.”
South Korea’s Toss Recruits Blockchain Engineers as Mainnet Plans Advance in 2026
The fintech company Toss serves roughly 30 million registered users, close to 60% of South Korea‘s population. Toss already operates Toss Bank, Toss Securities, and Toss Payments under a single super app. A blockchain mainnet would extend that infrastructure into onchain finance, giving the company direct control over fees, governance, and application development.
Blockmedia reported that Toss is weighing two paths: building a full layer one (L1) network from scratch or deploying a layer two ( L2) solution on top of an existing chain. An internal source told the outlet that teams are still deciding, with a final call contingent on progress in South Korea’s Digital Asset Basic Law.
A dedicated Stablecoin Task Force, led by Chief Business Officer Kyuha Kim, is already operating inside the company. In June 2025, Toss filed trademarks for 24 Korean won stablecoin names, including “TOSSKRW.” The company has been recruiting blockchain engineers since February 2026, posting roles covering wallet systems, API and transaction processing, node operations, cryptographic signing, and financial compliance.
Toss also confirmed it is developing a Web3 wallet built directly into the existing app, requiring no separate download. The wallet would support virtual asset storage, transfers, payments, and tokenized securities management.
A company spokesperson confirmed the direction in a statement:
“We view digital asset-based financial infrastructure as an important future area and are preparing for it. We are actively recruiting talented individuals with relevant expertise and broadly considering collaborations with various partner companies, prioritizing technology acquisition.”
At the 2026 Seoul Blockchain Meetup Conference in March, Corporate Development Director Seo Chang-whoon introduced the company’s “Money 3.0” framework. The concept centers on programmable money using smart contracts, borderless finance operating without restrictions on currency, geography, or time, and a stablecoin issuance and distribution strategy tied to real financial services.
The presentation included a proof-of-concept linking its SohoScore small-business credit model with smart contracts for automated lending. Owning a mainnet gives Toss the ability to design its own fee structure and service rules, avoiding dependence on external chains or exposure to third-party governance changes.
Experts cited by Blockmedia noted this is a key advantage over building on public networks. Prof. 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 allow faster tokenization.
Toss is not the only Korean crypto-adjacent company 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 would enter that 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, according to the report.
The company also disclosed it is exploring partnerships with KB Financial and Samsung Card as part of its digital asset infrastructure plans. Neither firm has made public statements on those discussions.
Toss reported its first profitable year in 2024, with consolidated revenue of 1.956 trillion Korean won, or 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.
