Toss's Superapp Ambition Meets Australia's Open Banking Future

Toss, a leading South Korean fintech company, is set to launch its all-in-one finance app in Australia, marking its first step in international expansion. The platform, described as a superapp, aims to consolidate users' financial services—including peer-to-peer money transfers—into a single interface. This move aligns with the company's strategy to replicate its domestic success, where it has amassed over 30 million users since its 2015 launch [2]. The company has already established a local unit in Australia and plans to begin core services by the end of 2025 [2].

Australia's banking landscape, characterized by a fragmented system and supportive regulatory frameworks such as the Consumer Data Right (CDR), provides an ideal environment for Toss’s expansion. The CDR mandates that banks share data with accredited third parties, enabling Toss to aggregate user accounts and streamline financial management [3]. Additionally, the country’s New Payments Platform (NPP) supports instant peer-to-peer and request-to-pay transactions, which align with Toss’s operational model [3]. The average Australian holds approximately 2.4 bank accounts, indicating a potential appetite for platforms that unify financial operations [3].

Beyond its Australian launch, Toss is preparing to introduce a Korean won-based stablecoin, contingent on regulatory approval. The company has been in discussions with local authorities to establish the necessary infrastructure for such an initiative [2]. This aligns with broader governmental efforts in South Korea to develop a regulatory framework for stablecoins. In August 2025, the country’s Financial Services Commission outlined plans to draft a legal framework by October 2025 to enable the issuance of won-backed stablecoins [3]. Other major players, including Kakao Bank and several national banks, have also expressed interest in entering the stablecoin space, reflecting growing institutional confidence in digital assets [3].

The potential listing of the Korean won stablecoin on major global exchanges such as Binance and Coinbase has also drawn attention from industry experts. According to former National Assembly Secretary General and Myongji University professor Lee Kwang-jae, ensuring international liquidity for the stablecoin is crucial for expanding its global utility. He emphasized the importance of enabling foreign investors to participate in local exchanges like Upbit and Bithumb [1]. The professor also noted that Samsung may explore the possibility of issuing a stablecoin in the future and integrating it into its payment systems [1].

Toss’s global ambitions underscore its long-term vision to become a major internet firm anchored in financial services. The company's expansion into Australia is not just a strategic move to enter a new market but also a test case for replicating its success in other geographies. While regulatory developments in South Korea remain a critical factor for the stablecoin initiative, Toss's proactive engagement with local authorities suggests a commitment to navigating the evolving digital currency landscape [2].

Source: [1] The Korean won stablecoin should be listed on Binance ... (https://www.chaincatcher.com/en/article/2203989) [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) [3] 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)