Solana Taps Toss Bank for Stablecoin Remittance Test

South Korea's Toss Bank has partnered with the Solana Foundation to test blockchain-based remittance and settlement infrastructure. The agreement, signed on June 19 in Seoul and announced on June 22, marks the first direct strategic cooperation between a South Korean internet-only bank and the Solana Foundation.

The partnership will focus on testing whether stablecoin transfers on Solana can fit into existing remittance workflows. Toss Bank will handle the banking-service and user-experience side of the trial, while Solana provides the blockchain infrastructure for faster settlement and lower-cost cross-border payment flows.

The South Korean market is moving in the same direction. KB Kookmin Bank recently issued South Korea's first bank digital dollar bond, while other local financial firms have been testing blockchain rails for tokenized finance and settlement.