Solana Foundation has partnered with Toss Bank, South Korea's third-largest internet-only bank, to explore blockchain-based cross-border remittance, stablecoin transfers, payments, and real-world asset (RWA) tokenization. The collaboration begins with a proof of concept (PoC) for global remittances and overseas stablecoin settlements, leveraging Solana's fast finality and low fees. This marks the first direct tie-up between a South Korean internet bank and the Solana ecosystem, coming as Toss Bank's parent company Viva Republica prepares for a US IPO in 2026 at a valuation exceeding $10 billion.
Partnership Details and Scope
Toss Bank signed a Memorandum of Understanding (MOU) with the Solana Foundation to test global remittance and settlement infrastructure on the Solana network. The initial PoC will focus on cross-border remittances and stablecoin transfers, with plans to expand into payments, digital assets, and tokenized RWAs in later phases. Solana's faster finality and lower transaction costs compared to traditional rails make it well-suited for high-volume, instant settlements. The partnership is seen as a significant step in bridging traditional finance with blockchain amid a global push for tokenization.
Regulatory and IPO Context
The deal unfolds as South Korea tightens crypto regulations, including foreign exchange controls on crypto transfers starting December 2026. Meanwhile, Viva Republica, Toss Bank's parent, is advancing toward a US IPO with a valuation target of over $10 billion, driven by strong growth across banking, payments, and securities. The bank's Web3 plans align with growing crypto adoption in South Korea, positioning the partnership to further integrate blockchain into mainstream finance.
Market Reaction
Following the announcement, SOL price rebounded 2% to $74, with a 24-hour range of $72.38 to $74.75. Trading volume increased 15% over the past day, reflecting renewed investor interest amid broader market developments such as US-Iran peace talks.