[Exclusive] Toss sets up a dedicated blockchain unit…begins building digital-asset infrastructure

Viva Republica, the operator of the mobile financial platform Toss, has established a dedicated blockchain organization and begun building digital-asset infrastructure. As discussions over institutionalizing virtual assets (cryptocurrencies) gain momentum, the move is seen as the start of a strategy to combine its existing financial services with blockchain infrastructure.

On the 12th, Toss said it recently formed a dedicated blockchain unit and is conducting an open recruitment for developers. An official said, "We created the blockchain department to respond quickly when the virtual-asset framework is put in place," adding, "We are building internal capabilities and providing related training." The team is currently about 5–6 people and is set to expand gradually. Regarding the hiring, the official said, "You can view this as a stage of preparing blockchain infrastructure."

The developer job posting released by Toss includes demanding technical requirements such as ▲designing and building a blockchain wallet system ▲API design and transaction processing ▲asynchronous state management ▲node operations ▲building a cryptography-based signing system (HSM) ▲ensuring consistency of balances and transaction histories ▲financial-grade compliance readiness.

The requirements suggest the company is not merely integrating external APIs but moving to design the custody, transfer and settlement architecture for digital assets in-house, analysts say. An industry insider said, "It appears to be an attempt to internalize a blockchain system that can handle regulatory requirements as a financial company."

Toss is also known to have been preparing a won-denominated stablecoin business. It has been running a "stablecoin task force (TF)" centered on Chief Business Officer (CBO) Kim Gyu-ha, and it was reported to be reviewing a plan to combine Bithumb’s stablecoin business with Toss’s simple remittance and payments platform.

However, the industry believes Toss’s strategy will not be limited to stablecoins. An industry official explained, "In the long run, it seems to be keeping in mind various expansion possibilities, such as a custody wallet system for storing and transferring digital assets, tokenized-asset management, stablecoin-linked services, and integration with external exchanges."

Toss is a comprehensive financial platform that owns internet-only bank Toss Bank and securities firm Toss Securities. With a user base of 30 million and operations spanning deposits, securities and payments, attention is focused on how the newly built digital-asset infrastructure will be integrated with its existing businesses.