Optimism and Toss Explore Korean Won Stablecoin for 30 Million Users

By Lidia Yadlos

South Korea's race toward stablecoins is gaining momentum. Optimism has signed a memorandum of understanding (MOU) with Toss, one of South Korea's largest fintech platforms, to explore developing a Korean won-backed stablecoin using the OP Stack blockchain infrastructure.

The collaboration will begin with a three-month proof of concept (PoC) evaluating whether the OP Stack can support the compliance, privacy and performance requirements needed for regulated financial institutions.

For Optimism, the agreement represents another step in expanding beyond decentralized finance and into enterprise-grade financial infrastructure. For Toss, it could provide the blockchain foundation for bringing one of Asia's largest consumer fintech platforms on-chain.

Bringing Stablecoins to One of Crypto's Biggest Markets

South Korea has long been one of the world's most active cryptocurrency markets. Industry estimates suggest around 16 million South Koreans—roughly one-third of the country's population—own or trade digital assets, while Toss already serves more than 30 million users, making it one of the country's most widely used financial applications.

The platform combines banking, payments, investing, lending and tax services into a single app, positioning it as a potential gateway for mainstream stablecoin adoption if the project moves beyond the pilot stage.

The partnership also comes as South Korean regulators increasingly explore frameworks for regulated stablecoins and tokenized financial assets, reflecting a broader shift taking place across Asia's digital finance landscape.

Why Privacy Matters

One of the biggest challenges facing institutions exploring public blockchains is privacy. While blockchains are designed to be transparent, banks and financial institutions often require confidential transaction data to protect customer information while still complying with regulatory oversight.

To address that challenge, Optimism will provide the underlying blockchain infrastructure while Sunnyside Labs will contribute Privacy Boost, a privacy solution that combines zero-knowledge proofs with trusted execution environments.

The technology allows transaction details to remain confidential while preserving the auditability regulators require.

Kyle Jenke, Chief Business Officer at Optimism, said the partnership is focused on proving public blockchain infrastructure can meet institutional standards.

A Growing Stablecoin Race

The announcement comes as countries and financial institutions around the world accelerate efforts to launch regulated stablecoins tied to national currencies.

Governments across Asia, Europe and the Middle East are increasingly exploring tokenized payments and blockchain settlement infrastructure as competition intensifies around the future of digital finance.

For Toss, whose platform already reaches nearly 60% of South Korea's population, a successful pilot could create one of the largest consumer-facing stablecoin ecosystems in Asia.

"For Web3 technology to successfully integrate into institutional finance, strict regulatory compliance and robust privacy protection are paramount," said Q-Ha Steve Kim , Chief Business Officer at Toss.

"By leveraging Optimism's proven OP Stack, we aim to build a highly trusted, compliant digital financial infrastructure tailored specifically for the Korean market."

While the project remains in its proof-of-concept phase, it highlights a broader trend emerging across the blockchain industry: the next wave of adoption may be driven less by speculation and more by regulated financial infrastructure designed for millions of everyday users.

Published on Optimism

Optimism and Toss Explore Korean Won Stablecoin for 30 Million Users