Toss announces plans for won-backed stablecoin

Toss (Viva Republica) has announced its intention to enter the business of issuing and distributing a won-backed stablecoin. According to ZDNet Korea, Seo Sang-hoon, a managing director at Viva Republica, revealed the plans at the '2026 BCMC' blockchain conference on March 12. He stated that Toss wants to explore the roles of both a stablecoin issuer and a distributor. The conference was hosted by South Korea's Ministry of Science and ICT and the Korea Internet & Security Agency (KISA). Toss is considering joining a won-backed stablecoin consortium to facilitate the issuance. The company also plans to expand the stablecoin's usability through a "DApp Store."