Toss Announces Strategy for Stablecoin Business
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Toss is envisioning stablecoins as a new financial infrastructure that can either replace or coexist with existing financial systems. Heo Won-young, the team lead at Toss, stated at the "Ethereum Korea One: Genesis" conference held in Yeouido, Seoul on the 28th, that they recognize stablecoins not as a specific service but as a new financial infrastructure rail. Toss is building its technical capabilities to secure the basic infrastructure functions related to stablecoins and is currently conducting proof of concept (PoC) with partner companies. He diagnosed that they have recently moved into the stage of concretizing the business model for the Korean won stablecoin, explaining that companies are focusing on internal preparations. He emphasized that simply building a stablecoin infrastructure would not be sufficient to attract users, given that Korea's existing financial infrastructure is well-established. He pointed out that the success conditions include infrastructure accessibility, the provision of practical benefit services, and distribution capabilities. He added that it is important to create a service that users can choose and continue to use.
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