Korean Fintech Giant Toss Eyes Global Expansion with Australia Launch and Won-Pegged Stablecoin
- Toss is launching its all-in-one finance app in Australia this year, with peer-to-peer transfers as the first service.
- The company is also preparing to issue a won-pegged stablecoin in line with South Korea’s upcoming regulatory framework.
South Korea’s fast-rising fintech player Toss is setting its sights on global growth, beginning with Australia. The finance app, already a household name in Korea with over 30 million users, wants to replicate its success abroad by offering simplified banking services in a fragmented financial market.
At the same time, Toss is preparing to introduce a Korean won-backed stablecoin once regulations in Seoul catch up with the industry’s momentum. The two moves show how the startup is building both global presence and digital currency credibility at once.
Toss Expands into Australia with a Finance App Built for Fragmented Banking
The first stop for Toss’s international rollout will be Australia, where the company plans to launch by the end of this year. The move is timely, given Australia’s banking system is often described as fragmented, with the average citizen juggling 2.4 bank accounts. Toss’s “all-in-one” app, which combines peer-to-peer transfers, financial management, and account aggregation, hopes to make money management less scattered for users.
Additionally, Australia’s regulatory environment is also playing into Toss’s strategy. The Consumer Data Right requires banks to share data with accredited fintechs, while the New Payments Platform supports instant transactions and requests-to-pay. These frameworks create a fertile ground for Toss’s services to gain traction quickly.
CEO Lee Seung-gun, who started out as a dentist before building Toss, emphasized that his company has already proven in Korea that startups can go head-to-head with established banks. The same formula, he believes, can work globally if the right conditions exist.
Toss Sets its Sights on Global Growth Beyond Australia
The Australian launch is only the beginning. Toss has already established a presence in Singapore, though more as a hub than a retail market. Other regions are under review, and the long-term vision is clear, as the South Korean doesn’t want to remain just another financial holding company. Instead, Lee sees the firm growing into a “global internet company built on financial services.”
This ambition is not just about growth for growth’s sake. Toss has already been approached by global funds that view it as one of the rare fintechs delivering on the promise of a true “super app.” With more users adopting digital-first lifestyles, the demand for a single platform that brings together payments, transfers, and management tools continues to expand worldwide.
At home, Toss has carved out a solid reputation by taking on entrenched players and delivering simple, user-friendly solutions. Carrying that model abroad, the company hopes its ability to simplify financial complexity will give it an edge in markets facing similar inefficiencies.
Toss Prepares to Issue a Won-backed Stablecoin as Korea Drafts New Rules
While the fintech platform is pushing outward, it is also laying the foundation for a new chapter in South Korea’s digital finance ecosystem. The company has confirmed it will issue a won-pegged stablecoin once regulations allow. Discussions with authorities are already underway, and CEO Lee Seung-gun stated with certainty that “the compay will issue and distribute won-based stablecoin.”
Meanwhile, it is expected that South Korea’s Financial Services Commission must present a regulatory structure for stablecoins before the fall of 2025, in connection with campaign pledges by President Lee Jae-myung to back crypto innovation. However, other major players showed interest through recent trademark filings tied to stablecoin initiatives, including Kakao Bank and Kookmin Bank. With South Korea’s active push toward digital assets, Toss could be positioned at the center of this shift.
