Toss Tests Stablecoin Payments with Optimism and Sunnyside Labs

Toss, the operator of Toss, has partnered with Optimism and Sunnyside Labs to test a Korean won stablecoin for institutional payments. The three-month pilot will assess settlement, compliance, and privacy features for blockchain-based payment infrastructure.

The project reflects growing interest among South Korean financial firms in stablecoin-based payment systems. Viva Republica, the operator of Toss, has reportedly partnered with Optimism and Sunnyside Labs to conduct a three-month proof of concept for a Korean won-based stablecoin payment system aimed at financial institutions.

The pilot will use Optimism's OP Stack and Sunnyside Labs' Privacy Boost protocol to evaluate settlement controls, know-your-customer and anti-money laundering compliance, and transaction privacy on a public blockchain. The proof of concept will assess whether financial institutions can control the settlement process while meeting regulatory compliance and privacy requirements.