South Korean fintech unicorn Toss is entering Australia, preparing to issue a Korean won stablecoin.

According to a report by Reuters in Seoul, South Korean fintech unicorn Toss plans to launch a one-stop financial application in Australia this year while expanding into other international markets. Founder and CEO Lee Seung-gun is preparing to issue a stablecoin based on the Korean won (Won), pending regulatory approval. This entrepreneur, who comes from a dental background, stated that Toss has proven that new fintech companies can compete with large banks and brokerages, and he predicts that overseas growth will ultimately surpass domestic growth in South Korea.

From dentist to fintech entrepreneur

Lee Seung-gun was originally a dentist. He founded the parent company Viva Republica in 2013 and launched Toss in 2015, starting with the goal of simplifying the complex transfer process in South Korea. At that time, Koreans needed to input numerous passwords and security authentications to complete a small transfer, whereas Toss simplified it to "one click" to finish. With this breakthrough, Toss quickly gained explosive growth in the South Korean market.

Currently, Toss has developed into a super financial application covering functions such as payment, insurance, investment, credit, and asset management, with over 30 million users in South Korea and a leading market share. The company has ascended to become a unicorn valued at over $10 billion and is considered one of the few startups in South Korea capable of challenging traditional large banks and brokerages.

Toss expands overseas and global vision

Lee Seung-gun said in an interview: We have proven in South Korea that startups can compete head-to-head with established companies. This model can be fully replicated in the global market, especially in countries where users utilize multiple bank accounts or various financial applications simultaneously. We hope to integrate them together to create a seamless experience.

The first overseas key market for Toss will be Australia. Lee Seung-gun explained that the local decentralized banking system and open banking policies provide a good development environment for a one-stop platform like Toss. The company has established a subsidiary in Australia and plans to launch core services, including peer-to-peer remittances, before the end of this year. In addition, Singapore will be positioned as a regional hub rather than a retail market. He added that Toss's long-term vision is not to become another financial holding company, but to become a global network company based on financial services.

Insiders reveal that Toss may go public in the United States.

Reuters reported in July, citing informed sources, that Toss plans to go public in the United States in the second quarter of 2026, with a valuation exceeding $10 billion. Some market observers indicated at the time that Toss's valuation could exceed $15 billion, which would make it the largest IPO by a South Korean company in the United States since 2021.

Lee Seung-gun stated that Toss has engaged with several global funds, which believe that Toss is one of the few fintech companies capable of realizing the super app concept, but he did not comment on any potential listing plans or valuations. Lee Seung-gun believes that Toss is in an excellent position to lead the creation of a digital native currency for the Korean won, as the South Korean government is committed to legislating for strict regulation and consumer protection. The South Korean financial regulatory agency plans to draft a regulatory framework bill within this year to fulfill the government's campaign promise to allow companies to issue stablecoins.

This article about South Korean fintech unicorn Toss entering Australia, preparing to issue a Korean won stablecoin, first appeared in Chain News ABMedia.