South Korean fintech giant Toss plans to issue a native cryptocurrency

South Korean payment and banking giant Toss has revealed that it is considering developing its own blockchain network and issuing a native cryptocurrency, potentially based on a Layer1 mainnet, while exploring Layer2 scaling solutions.

According to informed sources, Toss has not yet made a final decision on whether to adopt a Layer1 or Layer2 architecture, and the related decision is influenced by the progress of South Korea's "Digital Asset Basic Law." This legislation will regulate key areas such as token issuance, stablecoins, and cryptocurrency ETFs.