Key facts
- Toss is partnering with Optimism and Sunnyside Labs.
- The partnership will conduct a three-month proof of concept.
- The pilot program will test a Korean won-based stablecoin.
- The stablecoin is intended for institutional payments.
- The initiative aims to assess the feasibility of blockchain-based payment infrastructure.
Toss, the company behind a popular South Korean mobile money application, is embarking on a new venture to explore blockchain-based payment solutions. In partnership with Optimism and Sunnyside Labs, Toss will conduct a three-month proof of concept. This pilot program is designed to test the functionality and feasibility of a stablecoin denominated in Korean won for use in institutional payment scenarios. The primary objective of this collaboration is to assess whether blockchain technology can serve as a viable and efficient infrastructure for future payment systems within the institutional sector. The initiative represents a significant step for Toss in exploring the potential of decentralized finance and digital currencies for mainstream financial applications.