Key Highlights
- Toss is exploring a native token and blockchain network as part of a broader crypto expansion strategy.
- The firm is weighing a Layer 1 vs Layer 2 approach while building plans for wallets, stablecoins, and payments integration.
- Regulatory uncertainty in South Korea is slowing timelines, with development still in early stages.
South Korean fintech platform Toss is exploring a deeper move into digital assets, including plans for a native token and its own blockchain network.
According to a local report, internal discussions center on building a self-contained ecosystem that could support payments, financial services, and asset issuance without relying entirely on external chains.
Layer 1 or Layer 2: Still an open question
The company has yet to decide whether it will introduce a standalone Layer 1 blockchain or construct its product using an alternative Layer 2 blockchain strategy. Both options come with pros and cons. With a Layer 1 blockchain, Toss would have more freedom when it comes to determining the transaction fee, governance model, and other aspects of the project’s operation.
Another factor that has caused some delays in decision-making involves regulatory uncertainty. There have been several instances where delays in the development of digital asset regulations in South Korea have hampered decision-making processes.
Building a broader digital asset stack
Beyond infrastructure, Toss is considering a wider ecosystem that includes stablecoins, wallets, and payment integration. Trademark filings linked to Korean won-based stablecoins suggest early groundwork, while partnerships with financial institutions remain under review. Internally, a dedicated task force has been set up to assess stablecoin design and compliance requirements.
At the same time, development of a built-in Web3 wallet is underway. The aim is to integrate digital asset storage and payments directly into the existing app, avoiding the need for separate platforms.
Moreover, the firm has started putting together the technological base for its plans. A blockchain group has been created, and hiring is underway for positions in wallets, nodes, transactions, and cryptography. The hiring suggests this is at an early development stage, not a product launch imminent on the horizon.
Why build a mainnet at all?
Owning blockchain infrastructure offers tighter control over how services are designed and monetized. Companies can set transaction fees, manage access, and integrate applications within a single network.
However, using external chains may put the platform at risk of unpredictable charges or governance choices, which is why many companies are looking into developing their own infrastructure, albeit more expensive.
Cost, scale, and practical constraints
Launching a Layer 1 blockchain remains resource-intensive. Industry estimates suggest that building and maintaining a global-scale network requires significant capital, time, and operational complexity.
As a result, a custom Layer 2 model is being discussed as a more practical alternative. It allows companies to deploy tokenized services more quickly while still tapping into the security and liquidity of established ecosystems.
Expansion plans on hold, for now
Toss’s crypto strategy is still evolving, with key decisions tied to both technical feasibility and regulatory clarity.
For now, the company appears to be laying the groundwork, testing structures, hiring talent, and evaluating partnerships, while waiting for clearer signals on how digital asset rules will take shape in its home market.
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