South Korean fintech super-app Toss, with roughly 30 million registered users, is testing a Korean won stablecoin on Optimism’s OP Stack. This three-month pilot, conducted with Sunnyside Labs and its Privacy Boost tool, aims to determine whether a financial institution can manage settlement while meeting KYC and AML requirements and protecting transaction privacy on a public blockchain. The deployment plugs into a multi-chain ecosystem already used by Sony (Soneium), Uniswap (Unichain) and OKX (X Layer). Whether the pilot converts into a live KRW stablecoin will depend on regulatory sign-off in South Korea, which has not yet finalized its stablecoin licensing framework.
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