Toss Bank and the Solana Foundation signed a memorandum of understanding on June 19, 2026 at Toss Bank’s Sinnonhyeon office to develop blockchain solutions for fast, low-cost global finance services for the bank’s approximately 15 million customers. This is the first direct one-to-one strategic partnership between a South Korean internet-only bank and the Solana Foundation.

The MOU outlines several areas of cooperation, including a proof-of-concept for Solana-based remittance and settlement systems, stablecoin testing for overseas transfers, and evaluation of blockchain payment and settlement models, according to Solana’s announcement. The parties will also explore what financial products can be built using tokenized and digital assets.

Toss Bank plans to integrate these technologies into its existing services step-by-step while complying with South Korea’s stablecoin regulations. The bank already offers remittance services in approximately 30 countries across several currencies.

Primary statements from executives

Park Jin-hyeon, Toss Bank’s Chief Strategy Officer, told Digital Today the partnership gives the bank a starting point to develop blockchain infrastructure for both its domestic operations and international payment and settlement processes, with the aim of delivering a better global digital finance experience through Solana.

Lily Liu, chair of the Solana Foundation, said the collaboration aims to set the trust of traditional finance with the efficiency of blockchain while improving the efficiency of cross-border remittances through blockchain.

Broader context and implications

A successful proof of concept could accelerate adoption of Solana’s network among other financial institutions evaluating it for payments and settlement.

Cryptonews and other outlets have also covered the phased approach and the long-term potential for tokenized assets and improved cross-border systems.