South Korea’s Toss Bank has signed a strategic partnership with the Solana Foundation to explore how blockchain technology can improve cross-border payments, remittances, and digital asset services.
The agreement, signed in Seoul on June 19 and disclosed publicly on June 22, marks what Toss Bank describes as the first direct partnership between a South Korean internet-only bank and the Solana Foundation.
At first, the partnership will work on a test project for international remittances and settlements using stablecoins on the Solana network. Toss Bank wants to see if blockchain transfers can be faster and cheaper, while still giving customers the same experience they expect from regular banks.
The partnership goes beyond just remittances. Both groups will look at wider payment and settlement systems built on blockchain, including services tied to stablecoins, tokenized assets, and digital finance products. Park Jin-hyeon, Toss Bank’s Head of Strategy, called the deal an important first step toward bringing blockchain into everyday banking.
This partnership comes at a key time, as South Korea is looking at new rules that could let fintech companies join a new licensing system for cross-border virtual asset transfers. The new rules are expected later this year and could allow for regulated blockchain payment services.
This move is part of a bigger trend in Asia. South Korean banks have been testing stablecoins for things like remittances and merchant payments, and Japanese companies are building similar blockchain payment networks. Recent tests have shown big drops in fees and faster settlement times.
For Solana, this deal brings another traditional bank into its growing group of payment and stablecoin partners. Solana Foundation Chair Lily Liu said that mixing the trust of well-known banks with the speed of blockchain could set a new standard for sending money worldwide.
It’s important to note that Toss Bank hasn’t launched a live stablecoin remittance service yet. Right now, they are just testing and seeing if it works. Moving forward will depend on getting regulatory approval, how well the system works, and whether blockchain can fit into current banking systems.
As traditional finance and blockchain come together, the Toss-Solana partnership could show how banks might use public blockchain networks in a regulated setting.
BREAKING: Toss Bank is set to use Solana for its global remittance and settlement PoC.
The South Korean bank’s 15 million customers will be able to experience faster, more cost-effective global digital finance with Solana. pic.twitter.com/fSdOUFWKL0
— Solana (@solana) June 22, 2026
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