Toss Bank Partners with Solana Foundation to Test Blockchain-Based Global Remittances

Highlights:

• Toss Bank signed South Korea’s first direct internet-bank partnership with Solana Foundation for blockchain finance.
• They will test Solana-based global remittance and settlement infrastructure through a proof of concept.
• The deal also covers stablecoins and tokenized assets as South Korea develops digital-asset rules.

South Korea’s Toss Bank has signed a strategic memorandum of understanding with the Solana Foundation to explore blockchain-based financial services, Digital Today reported on Monday. The agreement was signed on June 19 at Toss Bank’s Seoul office. Toss Bank described the deal as the first direct one-to-one strategic partnership between a South Korean internet-only bank and the Solana Foundation.

The main focus of the partnership is to test whether blockchain technology and stablecoins can make global money transfers faster and cheaper. Stablecoins are digital currencies designed to maintain a stable value by being linked to traditional money.

As part of the agreement, Toss Bank and the Solana Foundation will run a proof of concept for global remittance and settlement infrastructure on Solana. They will also review blockchain-based payment models and explore digital and tokenized assets for future financial services. Toss Bank plans to begin with overseas remittances and later expand into other areas. The move also comes as South Korea continues to develop its regulatory framework for stablecoins and digital assets.

🚨JUST IN: KOREA'S TOSS BANK PARTNERS WITH SOLANA TO USE CRYPTO RAILS FOR REMITTANCES

Toss Bank, managing 30T won, signed a deal with Solana to use blockchain for remittances, including stablecoin transfers, for its 15 million customers.

Toss is now the first South Korean… pic.twitter.com/qu7PYKOrNp

— Coin Bureau (@coinbureau) June 22, 2026

Toss Bank and Solana Aim to Improve Global Money Transfers

Park Jin-hyeon, head of strategy at Toss Bank, said the cooperation is a starting point for gradually applying blockchain-based digital financial infrastructure to the bank’s existing services. He said Toss Bank will work with Solana to verify the possibility of creating global digital finance experiences.

Lily Liu, chair of the Solana Foundation, said the partnership could help create a new standard for a faster and smoother global remittance experience. She pointed to the combination of traditional finance trust and blockchain efficiency.

For Solana, the partnership adds another financial use case for its network. For Toss Bank, it gives the company a way to test blockchain in a practical banking service before expanding into wider digital finance areas. The project is still at the proof-of-concept stage, so the report does not confirm a commercial launch date. However, the agreement shows that South Korean digital banks are paying closer attention to blockchain-based payment infrastructure as stablecoin regulation develops.

Korea’s Banking Sector Tests Blockchain for Faster Payments

Toss Bank is not the only financial firm testing blockchain-based payments. Other major banks have also explored similar systems to enable faster transfers and settlements. In South Korea, KB Kookmin has tested stablecoin payments and cross-border remittances on the Kaia blockchain, while Shinhan Bank previously piloted stablecoin remittances on Hedera.

The partnership comes as South Korea is preparing clearer rules for crypto-based cross-border transfers. Previously, Crypto2Community reported that the government is working on enforcement rules for the revised Foreign Exchange Transactions Act, which will bring overseas crypto transfers under the foreign exchange system. Companies may need to register with the finance minister and report transfer details through the Bank of Korea’s network. The review could also allow fintech firms to enter the market if they meet the required standards.

JUST IN: S. Korea eyes expanding cross-border virtual asset transfers beyond exchanges as it drafts enforcement for revised FX Act. If approved, this could widen cross-border remittances and FX flows through VAs. $KRW, $BTC, $ETH pic.twitter.com/Vme9W5CUmz

— Bpay News (@bpaynews) June 19, 2026