Seoul-based fintech company Toss, valued at over $1 billion, announced plans to introduce its integrated finance application in Australia before the end of the year as part of a broader international expansion strategy. The app consolidates multiple banking and payment features, including peer-to-peer transfers, bill payments and investment services, into a single user interface. Toss has already attracted more than 30 million users in South Korea since its founding in 2015.
Founder and CEO Lee Seung-gun stated in an interview that Australia was selected for its fragmented banking system and favorable open-banking regulations, which allow fintech startups to deliver unified services across multiple financial institutions. The Australian unit will initially roll out peer-to-peer transfer functionality, with additional services such as investment and credit products to follow in early 2026. Singapore will serve as a regional hub for corporate and institutional offerings rather than retail operations.
Simultaneously, Toss outlined ambitions to issue a stablecoin pegged to the South Korean won once a domestic regulatory framework is established. The government’s upcoming legislation on digital-assets is expected to define consumer-protection measures and licensing requirements for issuers of fiat-backed tokens. Once enacted, Toss plans to leverage its infrastructure to provide a digitally native form of the won, facilitating faster cross-border remittances and on-ramp access to crypto services.
Toss is also preparing for a U.S. initial public offering in the second quarter of 2026, targeting a valuation exceeding $10 billion. Discussions with global investment funds have indicated potential demand for a super-app model that integrates banking and non-bank financial services. Industry analysts suggest that Toss’s valuation could reach $15 billion if market conditions remain supportive, making it one of the largest South Korean IPOs in the United States.
The expansion comes amid heightened global interest in fintech super-apps, driven by consumer demand for convenience and regulatory incentives in key markets. Toss’s approach mirrors trends seen in Southeast Asia and Latin America, where digital wallets have gained traction by reducing friction in cross-institution transactions. Regulatory authorities in both Australia and Singapore are monitoring fintech developments to ensure competition and financial stability, with Toss expected to comply with all licensing and reporting obligations.
Reporting by Cynthia Kim and Heekyong Yang; Editing by Christopher Cushing.
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