Toss and Toss Bank Sign Strategic MOU with Circle to Explore Stablecoin-Based Payments

• Collaboration to explore stablecoin payment models and digital asset infrastructure built on Circle's USDC
• Companies to examine blockchain-based payment infrastructure for cross-border payments, remittances, and real-time settlement
• Parties to also review KRW-denominated digital assets and tokenized financial services in line with applicable regulatory frameworks

Toss and Toss Bank announced that they have signed a strategic memorandum of understanding (MOU) with Circle Internet Group, Inc. (NYSE: CRCL) to explore collaboration in blockchain-based payment infrastructure and stablecoin technologies.

Under the MOU, Toss, Toss Bank, and Circle will jointly explore opportunities to collaborate on payment and settlement infrastructure powered by stablecoins and blockchain technology. Subject to applicable regulatory frameworks, the companies will examine ways to connect Circle's infrastructure with the Toss and Toss Bank ecosystem while also exploring broader applications of blockchain-based payment and settlement infrastructure.

Leveraging its experience operating a financial super app, Toss will explore ways to enhance digital payment experiences through blockchain technology. The company will examine potential applications across digital wallets and payment and settlement infrastructure, as well as opportunities to integrate with blockchain networks, including biometric-enabled payments, USDC-based financial instruments, and programmable on-chain payments.

Building on its experience as an internet-only bank, Toss Bank will explore how stablecoins and blockchain technology can be applied to cross-border payments and settlement infrastructure. The bank will also examine how stablecoin infrastructure can interoperate with existing fiat payment rails and explore ways to improve the speed and efficiency of global payment and settlement by leveraging its account-based settlement capabilities.

The companies will also review opportunities related to KRW-denominated digital assets and tokenized financial services in accordance with applicable regulatory frameworks. In addition, they plan to collaborate in areas essential to delivering secure and trusted services, including regulatory compliance, risk management, security, and anti-money laundering.

"We are exploring a range of technology partnerships to give our users a more seamless and convenient payment experience," said Qha Kim, Chief Business Officer at Toss. "As the payments landscape continues to evolve, we will continue strengthening the competitiveness of our services."

"For stablecoin-based payment and settlement infrastructure to become part of mainstream financial services, technological innovation must go hand in hand with robust regulatory compliance, risk management, and customer protection," said Jin-hyun Park, Chief Strategy Officer at Toss Bank. "As an internet-only bank, we will continue to explore the potential of new technology-based services that are secure, trusted, and aligned with evolving regulatory frameworks."

"We are pleased to explore the many opportunities that stablecoin technology and blockchain-based payment infrastructure can unlock together with Toss and Toss Bank," said Dante Disparte, Chief Strategy Officer and Head of Global Policy & Operations at Circle. "We believe this collaboration reflects our shared commitment to advancing digital financial services by pursuing innovation and regulatory compliance together."