South Korean fintech Toss plans global push starting in Australia, aims to issue won stablecoin once rules allow

South Korean fintech unicorn Toss plans to launch its „all-in-one” finance app in Australia this year and expand to other markets, and aims to issue a won-based stablecoin once regulations allow, said founder and CEO Lee Seung-gun, according to Reuters.

Toss has shown that a startup can take on big banks and brokers, said the dentist-turned-entrepreneur, who predicts overseas growth to eventually outpace growth at home.

„We proved in Korea that a startup can compete head-on with entrenched players,” Lee said in an interview on Tuesday. „A similar model can work globally, especially in countries where users juggle multiple bank accounts or fintech apps. We want to bring them into one seamless experience.”

Toss has attracted more than 30 million users in South Korea since its founding in 2015, Lee said. Its first major overseas push will be in Australia, where a fragmented banking system and open-banking rules allow room for a one-stop platform, he said.

____________

In February 2015, Toss introduced the first simple transfer service that did not require an accredited certificate, revolutionizing how people send money. Since then, Toss has continuously worked to reduce the time and cost users spend on tedious financial tasks—so they can focus on what truly matters in their daily lives. 

As of the end of 2024, the number of Monthly Active Users (MAU) on the Toss Superapp reached 25 million (based on WiseApp data), representing a 29% increase year-over-year. The expanding user base led to higher user engagement across all key Consumer services.

On a standalone basis, Toss recorded ₩587 billion (approximately USD 423 million) in revenue – which represents a strong year-over-year growth of 75%. It posted operating profit of ₩12 billion (approximately USD 8.6 million) and net profit of ₩48 billion (approximately USD 34.6 million) – achieving its first-ever full-year net profit on a standalone basis.