Toss Bank Signs MOU With Solana Foundation for Stablecoin Cross-Border Remittance PoC

Toss Bank, South Korea's third-largest internet-only bank by customer base, signed a Memorandum of Understanding with the Solana Foundation on June 19, making it the first South Korean internet-only bank to enter a direct blockchain infrastructure partnership with the Solana SOL$118.20-0.4% network. The deal was publicly announced June 22 via the official @solana account.

The MOU, signed at Toss Bank's Sinnonhyeon office in Seoul, covers a phased proof-of-concept for stablecoin-based cross-border remittances on the Solana network. The first phase will test the technical feasibility of stablecoin transfers; later phases will evaluate anti-money laundering and know-your-customer compliance frameworks alongside overseas financial partners.

Stablecoin Remittance PoC: Phased Approach on Solana

The partnership builds on Toss Bank's existing international remittance product, launched in January 2026, which already supports seven major currencies across 30 countries and offers near real-time transfers for euros, Singapore dollars, and British pounds. The PoC aims to test whether a stablecoin settlement layer on Solana can reduce latency and cost further for corridors the bank already serves.

Beyond remittances, the agreement scopes review of broader blockchain-based payment and settlement models, with mid-to-long-term optionality around digital assets and real-world asset tokenization. The MOU does not commit to a production launch or name which stablecoin Toss Bank intends to use in testing.

Lily Liu, president of the Solana Foundation, said the partnership could help establish a new standard for faster, smoother global remittances by combining traditional banking trust with blockchain efficiency.

Toss Bank's Scale and South Korea's Regulatory Backdrop

Toss Bank sits inside the Viva Republica group, the parent fintech behind the Toss super-app, which is planning a US IPO. The bank itself serves approximately 15 million customers, according to the @solana announcement. A live stablecoin remittance PoC with that kind of customer reach and regulatory standing gives Solana a credible test case in an Asian market where crypto adoption is high but regulated banking partnerships have been limited.

South Korea adds a specific compliance dimension: the government plans to implement foreign exchange controls on crypto transfers in December 2026. The Korea Herald reports Toss Bank intends to align the PoC's AML/KYC framework with those incoming rules, meaning the partnership is being built around regulatory readiness from the outset.

Toss Bank's strategy team cited Solana's finality speed and low per-transaction costs as reasons to test its rails over other blockchain options. The MOU does not specify which stablecoin will be used; that choice sits inside the PoC's open design questions.

Asian Bank Institutional Adoption Pattern for Solana Payments

The Toss Bank MOU follows a pattern of traditional financial institutions testing Solana for payments infrastructure. Singapore Gulf Bank demonstrated stablecoin minting on Solana at Breakpoint 2025, and DBS Bank, another large Asian bank, identified Solana as its top altcoin for institutional client demand. The Toss Bank deal is the first time a South Korean internet bank has taken the step of formalizing a bilateral PoC agreement directly with the Solana Foundation.

Whether the PoC converts into a production integration will depend on the compliance work in later phases. For now, the MOU puts a mainstream Korean regulated bank actively testing Solana's settlement layer, a data point that carries weight regardless of what the roadmap looks like at the next stage.

Additional sources: CoinGape via Yahoo Finance, CryptoTimes