- Toss Bank said it signed a memorandum of understanding with the Solana Foundation to build next-generation financial infrastructure based on blockchain.
- The bank said the agreement marks the first direct partnership between a South Korean internet-only bank and the Solana Foundation, which supports ecosystem growth and technical infrastructure for Solana (SOL).
- Toss Bank said it will gradually test the potential use of the Solana network in areas including global remittances and digital asset-linked services.
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Toss Bank said June 22 that it will work with the Solana Foundation to build next-generation financial infrastructure based on blockchain technology.
The bank signed a memorandum of understanding with the Solana Foundation on June 19. The Solana Foundation is a nonprofit that supports ecosystem growth and technical infrastructure for Solana, the layer-1 blockchain network behind SOL.
The agreement is the first direct partnership between the Solana Foundation and a South Korean internet-only bank. The two sides plan to jointly examine ways to apply blockchain technology to existing financial services using the Solana network.
Toss Bank plans to gradually test the use of blockchain-based financial infrastructure in areas including global remittances and digital asset-linked services.
“Together with Solana, we will help Toss Bank’s 15 million customers experience global digital finance more quickly and at lower cost,” Park Jin-hyun, head of strategy at Toss Bank, said.
“We will set a new standard for faster, more seamless global remittances by combining the trust of traditional finance with the efficiency of blockchain,” Solana Foundation President Lily Liu said.
