Toss, Toss Bank Partner With Circle on Stablecoin Payments Infrastructure

Toss and Toss Bank said July 23 that they signed a strategic memorandum of understanding with Circle Internet Group to cooperate on blockchain payments infrastructure and stablecoin technology.

Under the agreement, the three companies will explore collaboration on payments and settlement infrastructure using stablecoins and blockchain technology. They will also review ways to connect Circle’s infrastructure with the Toss and Toss Bank ecosystem under future regulatory frameworks, and examine broader applications for blockchain-based payments and settlement technology.

Toss plans to build on its experience operating a financial super app to advance digital payment services using blockchain technology. It will review potential applications including digital wallets, payments and settlement infrastructure, biometric authentication-based payments, financial services using Circle’s dollar stablecoin USDC, and on-chain programmable payments.

Toss Bank will focus on potential cooperation in cross-border payments and settlement infrastructure using stablecoins and blockchain technology. It will also review ways to connect traditional fiat payment networks with stablecoin infrastructure, while exploring how its bank account-based settlement capabilities could improve efficiency and processing speed in global payments and settlement.

The three companies also plan to examine potential cooperation in won-based digital assets and tokenized financial services as regulations evolve. They will also pursue cooperation on frameworks related to regulatory compliance, risk management, security and anti-money laundering.

Kim Kyu-ha, chief business officer at Toss, said the company is reviewing a range of technology partnerships to provide users with a more seamless and convenient payment experience. Toss will continue to strengthen its services in response to the rapidly changing payments environment, he added.

Park Jin-hyun, chief strategy officer at Toss Bank, said stablecoin-based payments and settlement infrastructure will require not only technology but also regulatory compliance, risk management and customer protection frameworks to expand into real-world financial services. As an internet-only bank, Toss Bank will continue to assess the potential for safe and reliable services built on new technologies, he said.

Dante Disparte, Circle’s chief strategy officer and head of global policy, said he was pleased to explore a range of potential applications for stablecoin technology and blockchain-based payments infrastructure with Toss and Toss Bank. He added that the partnership shows a shared commitment to advancing digital financial services while pursuing both innovation and regulatory compliance.