South Korea-based fintech company Toss has announced its plans to roll out its all-in-one finance app in Australia this year and expand its reach into additional markets.
In addition to launching its finance app in Australia and growing its footprint, Toss intends to use a won-based stablecoin once regulations allow it. After solidifying its position in its home country, the company now aims to apply a similar model globally, especially in regions where users leverage multiple bank accounts or fintech apps for their financial operations. Toss plans to unify this experience, bring all their accounts into a single platform.
Toss’ expansion strategy beyond South Korea
According to Toss’ data, the company now holds over 30 million users in South Korea, expanding significantly since the start of its operations in 2015. Toss’ first overseas entry is set to be in Australia, where a fragmented banking system and Open Banking rules support the launch of an all-in-one platform. The company has already created an Australian unit, which will start core services such as peer-to-peer money transfer by the end of 2025.
Additionally, the fintech is looking into other regions, with Singapore serving mainly as a regional hub rather than a retail market. Representatives from Toss emphasised their company’s long-term vision of becoming a global internet firm built on financial services. When it comes to its home country, Toss is positioned to support the creation of a digitally native form of the Korean won, as the government plans to introduce legislation to ensure oversight and consumer protection. Regulators are set to draft a bill on the regulatory framework in line with a government campaign pledge to enable companies to issue stablecoins.
Toss underlined that it will issue and distribute a won-based stablecoin, with the company being in discussion with authorities to prepare the infrastructure required for this move.
