South Korean fintech company Toss plans to launch global expansion from Australia, aiming to issue a Korean won stablecoin

Lee Seung-gun, founder and CEO of South Korean fintech unicorn Toss, said the company plans to launch its "one-stop" financial app in Australia this year and expand to other markets. Once regulations allow, Toss aims to issue a stablecoin denominated in the Korean won. "We demonstrated in Korea that startups can compete head-on with established companies, and a similar model can work globally," he said in an interview on Tuesday. The company has established a branch in Australia and plans to launch core services such as peer-to-peer transfers by the end of the year. The company is also evaluating other regions, with Singapore as its primary regional hub.