Toss Aims to Reinvent Global Finance—One Superapp and Stablecoin at a Time

Toss, South Korea’s leading fintech unicorn, is set to launch its finance superapp in Australia in 2025, marking its first international expansion. The company aims to replicate the success of its domestic operations, where it has amassed over 30 million users since its inception in 2015, by offering a unified platform for financial management and peer-to-peer (P2P) money transfers. Toss CEO Lee Seung-gun emphasized the company’s ambition to bring a streamlined financial experience to markets where users manage multiple bank accounts or fintech apps, particularly in countries with fragmented banking systems like Australia [1]. The move is expected to capitalize on Australia’s open banking rules and supportive regulatory environment [2].

Australia’s Consumer Data Right (CDR) and New Payments Platform (NPP) are key enablers for Toss’s strategy. These frameworks allow third-party financial service providers to access user data with consent and facilitate instant payments, respectively. These features align with Toss’s core offerings, such as account aggregation and real-time money transfers. With an average of 2.4 bank accounts per Australian, there is growing demand for platforms that consolidate financial activities, a gap Toss aims to fill with its superapp [1].

Toss has already established an Australian subsidiary and plans to roll out core services, including P2P transfers, by the end of the year. The company is also reviewing other potential international markets beyond Australia, signaling a broader global expansion strategy. This move reflects Toss’s vision to become a global internet firm built on financial services, leveraging its domestic success as a blueprint for international growth [2].

In parallel, Toss is preparing to issue a Korean won-based stablecoin once regulations in South Korea permit. The company is in active discussions with local authorities to develop the necessary infrastructure for this initiative. South Korea’s Financial Services Commission has indicated plans to introduce a regulatory framework for won-backed stablecoins by October, in line with broader government efforts to support digital finance innovation. This development could position Toss as a key player in South Korea’s evolving digital currency ecosystem [1].

The stablecoin initiative has already gained traction among South Korean financial institutions, with major banks such as Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea showing increased interest in digital assets following recent trademark filings. The growing institutional interest is further supported by the pro-crypto stance of South Korea’s newly elected President Lee Jae-myeung, who campaigned on promises to develop a digital won-pegged stablecoin [1]. As regulatory clarity improves, Toss is well-positioned to lead the market and foster greater adoption of digital assets within the country.

Toss’s dual strategy of expanding internationally while preparing for the local issuance of a stablecoin highlights its ambition to shape the future of digital finance. With Australia as its first overseas market and South Korea’s regulatory environment evolving in its favor, the company is poised to influence both global fintech trends and local digital currency adoption. The success of its expansion will depend on how effectively it can integrate local financial systems and meet user expectations for seamless, secure, and innovative financial services [2].

Source:

[1] Toss Takes on Australia, Plans Korean Won Stablecoin (https://cointelegraph.com/news/south-korean-stablecoin-unicorn-toss-to-launch-superapp-in-australia?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed)

[2] Toss to roll out all-in-one finance app in Australia (https://thepaypers.com/crypto-web3-and-cbdc/news/toss-to-roll-out-all-in-one-finance-app-in-australia)