Toss Bank and Solana Foundation test Solana for remittances and settlement

Toss Bank has signed a memorandum of understanding with the Solana Foundation to build and test cross-border remittance infrastructure on Solana, starting with a proof of concept for global remittance and settlement. The South Korean lender, described as the country’s third-largest internet-only bank and serving 15 million customers, said the partnership is the starting point for a phased effort to integrate blockchain-based digital financial infrastructure across its services. The initial work will assess whether stablecoins can lower the cost and improve the speed of overseas transfers. The two sides also plan to review blockchain-based payment and settlement models and examine how stablecoins and digital assets could be applied in financial services, with Toss Bank saying it intends to expand from remittances into payments, digital assets and tokenized real-world assets. The agreement adds to a growing list of South Korean financial institutions working with the Solana Foundation. In April, the foundation partnered with Shinhan Card on a proof-of-concept project for a real-world payment system using stablecoins on Solana. The move also comes as Toss Bank’s parent, Viva Republica, prepares for a U.S. initial public offering in 2026 targeting a valuation above $10 billion, and as South Korea moves to tighten oversight of cross-border crypto transfers beginning with registration in December 2026.