Toss and Bithumb Discuss Collaboration on Stablecoin Business Infrastructure

YM Lee

Summary

Toss and Bithumb are reportedly in discussions for cooperation on a stablecoin payment business.
A Bithumb representative stated that nothing has been decided regarding actual cooperation yet.
It was revealed that Bithumb, the second-largest exchange, is seeking partners related to stablecoin payments.

Toss (Viva Republica) and Bithumb are reportedly discussing cooperation for a stablecoin payment business.

According to industry sources on the 4th, Toss has been in talks for collaboration on a stablecoin business with several virtual asset companies, including Bithumb. A Bithumb representative stated, "We are discussing strategic directions related to the stablecoin business with various companies, but nothing has been decided about actual cooperation yet."

Last month, Upbit, the No. 1 domestic exchange, announced it would pursue collaboration with Naver Pay on the development of a Korean won stablecoin, and now Bithumb, the second-largest exchange, also seems to be searching for a payment partner related to stablecoins.

A Toss spokesperson explained, "We held meetings, including with Bithumb, to discuss this matter and are openly engaging with multiple potential partners regarding the stablecoin business."