Key Takeaways
South Korea's Toss Bank signed an MOU with the Solana Foundation on June 19, 2026 to test cross-border stablecoin remittances.
Toss Bank serves 15 million customers and already runs remittances across 30 countries and seven currencies.
The deal starts as a proof of concept, with plans to expand into payments, digital assets, and tokenized real-world assets.
South Korea's Toss Bank signed a memorandum of understanding with the Solana Foundation to build and test cross-border remittance rails on the Solana blockchain, the companies said. The agreement was signed in Seoul on June 19, 2026, and reported by Cryptopolitan and crypto.news.
Toss Bank is South Korea's third-largest internet-only bank, with 15 million customers, and its existing remittance service already covers 30 countries and seven currencies. The first phase is a proof of concept testing whether stablecoins can make cross-border transfers faster and cheaper. From there, Toss says it plans to move into payments, digital assets, and tokenized real-world assets.
Cross-border remittances are a natural first use for stablecoins because the existing system is slow and expensive, often taking days and charging several percent per transfer. A bank with 15 million customers testing that on a public chain is a larger signal than most pilot announcements, which tend to come from crypto-native firms rather than licensed banks.
The bank framed the deal as a test, not a live product. The companies described it as the first one-to-one strategic partnership between a Korean internet-only bank and the Solana Foundation. The timing matters. Toss parent Viva Republica is preparing a US initial public offering in 2026 that targets a valuation above $10 billion.
The move is another sign of a bank reaching for blockchain rails rather than waiting for a regulator to build them, the same shift visible when Anchorage launched tokenized-deposit rails for US banks and when the IMF called tokenization a structural shift in financial architecture. None of this is new on its own. What is new is how fast banks are deciding the rails are worth testing in production.
People Also Ask
What did Toss Bank and Solana agree to?
They signed an MOU to test cross-border stablecoin remittances on the Solana blockchain, starting with a proof of concept before expanding into payments and tokenized assets.
Is Toss Bank's stablecoin remittance service live?
No. The MOU covers testing and feasibility, not a launched product. Toss begins with a proof of concept for overseas remittances.
How many customers does Toss Bank have?
Toss Bank serves about 15 million customers as South Korea's third-largest internet-only bank, with remittances across 30 countries and seven currencies.
Why are banks testing stablecoins for remittances?
Stablecoins can settle cross-border transfers faster and cheaper than traditional rails, which often take days and charge several percent per transfer.