Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Toss Bank has signed an MoU to use Solana for stablecoin remittance

Source Cryptopolitan

South Korea’s internet-only bank Toss Bank has signed an MoU with the Solana Foundation to build and test cross-border remittance infrastructure on Solana.

The deal will be a starting point for the third-largest Korean internet bank to gradually integrate blockchain-based digital financial infrastructure into all of its financial services, Park Jin-hyeon, head of strategy at Toss Bank, said in a report on Monday.

Toss Bank plans to move through these in phases, starting with overseas remittances before expanding into payments, digital assets, and tokenized real-world assets.

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

Toss Bank signs Solana partnership to test blockchain remittances

The MOU lays out three areas of cooperation between the bank and the Solana Foundation.

The initial phase will focus on a proof of concept for global remittance and settlement. The plans at this stage will be to assess whether stablecoins can reduce the cost and speed of overseas transfers.

Both firms will also explore a joint review of blockchain-based payment and settlement models, and lastly assess the application of stablecoin and digital assets in financial services.

“We will work together to build a future where Toss Bank’s 15 million customers can experience faster and more cost-effective global digital finance with Solana,” said Jin-hyeon

The MoU with Toss Bank marks yet another major South Korean financial institution partnering with the Solana Foundation. As recently as April, the Solana Foundation partnered with South Korea’s Shinhan Card for a PoC project to test a real-world payment system using stablecoins on Solana.

Toss Bank’s parent eyes US IPO

More interestingly, Toss Bank’s plans for blockchain-based stablecoin remittances come as the parent firm Viva Republica is preparing for a US initial public offering (IPO) in 2026, targeting a valuation above $10 billion.

The Solana partnership adds a blockchain dimension to Toss’s product roadmap as the company pitches itself to American investors.

South Korea’s crypto market continues to expand under tightening regulations. Just last week, South Korean authorities announced plans to subject cross-border crypto transfers to formal foreign exchange oversight, with registration starting in December 2026.

Among other things, the authorities will require that the Travel Rule, which mandates exchanges to verify and share sender and recipient information during transfers, apply to both the sending and receiving VASPs.

The rule’s scope will then also extend below existing minimum thresholds, covering even small-value transactions, Cryptopolitan reported.

With the changing crypto regulatory landscape in Korea, Toss Bank now “plans to proactively respond to domestic legislative trends regarding stablecoins” going forward.

The smartest crypto minds already read our newsletter. Want in? Join them.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.

Author FXStreet

Aug 22, 2023

Prioritize filling the $27,000 gap and even try higher.

Pinduoduo Earnings Incoming: Morgan Stanley Sees Long-Term Profit Potential Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Author Mitrade

Nov 20, 2024

Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Elon Musk’s xAI and Neuralink Launch New Funding Rounds Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Author Insights

Jun 03, 2025

Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Bitcoin ETF Inflows For 2025 Now Outpace 2024, Data Shows US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.

Author Bitcoinist

Jul 16, 2025

US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Popular Symbols