South Korean fintech unicorn Toss, operated by Viva Republica, is preparing to launch its finance superapp in Australia before the end of 2025. The company plans to bring services such as peer-to-peer transfers, account management, loans, and insurance to Australian users. CEO Lee Seung-gun confirmed the company’s ambitions in an interview with Reuters, stating, “We proved in Korea that a startup can compete head-on with entrenched players.”
Toss sees opportunity in Australia’s financial landscape, where the average citizen holds 2.4 bank accounts, signaling demand for tools that simplify account management. The company plans to leverage the country’s open banking rules under the Consumer Data Right and instant transfer capabilities of the New Payments Platform to support its services.
Toss is also preparing to issue a Korean won-backed stablecoin once regulators in South Korea approve the framework. Lee said, “We will issue and distribute won-based stablecoin – that I can say for sure.” The Financial Services Commission plans to release guidelines by October, which could open the door for issuance.
Other institutions, such as Kakao Bank and Kookmin Bank, have also filed stablecoin trademarks, highlighting growing institutional interest. The Australian launch will act as a test case before Toss pursues further international expansion with both digital finance tools and stablecoin services.
