South Korean digital lender Toss Bank has signed a memorandum of understanding (MOU) with the Solana Foundation to examine blockchain-powered remittance and settlement services, an important step in the growing convergence of traditional banking and crypto infrastructure.
Toss Bank 🤝 Solana https://t.co/x9v9Sqc9cK
— Solana Foundation (@SolanaFndn) June 22, 2026
The agreement was signed in Seoul on June 19 and revealed on June 22. Under the partnership, both parties will examine how the Solana blockchain can support faster and more efficient cross-border payments, while also laying the groundwork for future digital asset services.
How will the pilot program for stablecoin remittances work?
The first phase of the collaboration will focus on a proof-of-concept project for international remittances and settlement. Toss Bank plans to test whether stablecoins can improve the speed and cost of overseas transfers while maintaining a user experience similar to traditional banking services.
The partners will jointly evaluate blockchain-based payment and settlement models and assess how stablecoins could be integrated into existing financial systems. They will also examine potential services tied to digital assets and tokenized real-world assets.
Park Jin-hyeon, Head of Strategy at Toss Bank, described the partnership as an important first step toward applying blockchain-based financial infrastructure to the bank’s existing services.
New regulatory changes are creating opportunities for crypto based financial services
The partnership comes as South Korea moves closer to introducing a licensing framework for cross-border virtual asset transfer services. The new regime, expected to take effect in December, could allow approved financial and fintech firms to offer blockchain-based remittance and foreign exchange services under regulatory oversight.
As lawmakers continue discussions around stablecoin regulations, Toss Bank said it will review its blockchain initiatives in line with evolving domestic rules. The changing regulatory environment is expected to play a role in determining how quickly blockchain-powered payment services can move from testing to commercial deployment.
Solana is growing its presence in the global payments industry
For Solana, the agreement builds its position in the stablecoin payments sector. The network has increasingly attracted interest from financial institutions looking at faster and lower-cost settlement infrastructure. Western Union recently launched USDPT on Solana, adding regulated stablecoin settlement to its global payments network.
Lily Liu, Chair of the Solana Foundation, said the collaboration could help establish a new step for global remittances by combining the reliability of banking services with the efficiency of blockchain technology.
While the partnership does not involve a live remittance product, it shows growing interest from banks in using public blockchain networks for real-world payment applications. No timeline has been announced for a commercial launch.
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