South Korea's Toss Bank and the Solana Foundation have signed a memorandum of understanding. The partners will develop a financial infrastructure based on blockchain technology.
BREAKING: Toss Bank is set to use Solana for its global remittance and settlement PoC.
The South Korean bank’s 15 million customers will be able to experience faster, more cost-effective global digital finance with Solana. pic.twitter.com/fSdOUFWKL0
— Solana (@solana) June 22, 2026
Initially, the bank will test cross-border transfers using stablecoins. Engineers will assess the technical feasibility of the concept and conduct transaction tests. In the future, Toss Bank plans to involve international partners and implement AML and KYC verification procedures.
The parties will also explore payment models based on digital assets. Toss Bank expects that Solana's technology will make international transactions faster and cheaper for its 15 million customers. Currently, the service supports transfers to 30 countries.
The Solana Foundation is already collaborating with South Korean companies Shinhan Card and Hanwha Asset Management. However, these projects remain in the testing phase while South Korean authorities finalize cryptocurrency legislation.
In the future, Toss Bank plans to utilize blockchain in payments and the tokenized asset sector. The bank intends to expand the implementation of these technologies as regulatory norms evolve in the country.
It is worth noting that in May, South Korea's KB Financial Group completed the concept validation phase for a stablecoin pegged to the won.