The South Korea Fintech Unicorn Toss plans to launch a superapp financial in Australia this year, the first expansion abroad, while also preparing to issue a Korean-based Stablecoin-based Korean winner once the regulations allow.
According to a Tuesday Reuters ReportToss CEO Lee Sea-gun said the firm plans to launch Superapp in Australia this year and also expand in other markets. “We have proven to Korea that a start can compete with head-on with hidden players,” he told the outlet. “A similar model can work around the world, especially in countries where users have jugged a lot of bank accounts or fintech apps. We want to bring them to a seamless experience.”
CEO said the toss attracted more than 30 million users to South Korea Since it was launched in 2015. Australia was the first to push abroad for the company, where the company expects to use a fragment banking system and open banking policies to its advantage.
The Told has been reported to have set up an Australian unit and plans to launch basic services, including peer-to-peer currency transfers, by the end of the year. The company said it also examined other territories.
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Australia Consumer (CDR) data correctly Forcing banks to share data with accredited third parties, supporting integration services -Connected Toss accounts.
In addition, Australia New Platform Platform (NPP) Supports instant P2P and request-to-pay, which is likely to be useful in the Told Money transfer system.
Australian average holds about 2.4 bank accounts, according to the local news outlet ABCDemand for services that is unified financial management.
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Stablecoin’s ambitions in South Korea
The toss also aims to issue a Korean won-based stablecoin once South Korea regulations allow it. “We will come out and distribute won-based stablecoin-which I can say is sure,” said Sea-gun, mentioning that the company discussed the initiative with local regulators.
In August, South Korea The financial service commission said it would introduce a regulation framework For a winner who was supported by Stablecoin in October. The other companies looking to launch a Korean won stablecoin with the banking arm of South Korean It Giant Kakao Corporation.
In early July, the Major shares South Korean banks moved on following trademark filings for stablecoinsSigned a growing institutional interest in digital possessions. Banks include Kakao Bank, Kookmin Bank and the Industrial Bank of Korea.
Files came shortly after the inauguration of the country’s 21st president. During his campaign, Lee Jae-Myung made crypto-friendly promises, including the Development of a Korean won-pegged stablecoin.
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