TechFlow News, April 6: According to The Block, Korean fintech company Toss is planning to independently develop its own blockchain network and issue a native cryptocurrency.
According to South Korean media outlet Blockmedia, citing informed sources, Toss is considering issuing its native token on a Layer 1 mainnet and may simultaneously launch a Layer 2 network to enhance scalability. At present, the company has not yet finalized its decision on whether to adopt a Layer 1 or Layer 2 architecture.
The primary reason for the delay in decision-making is the legislative delay of South Korea’s Digital Asset Basic Act. This bill aims to establish a comprehensive regulatory framework covering token issuance, stablecoins, and cryptocurrency ETFs, and remains under development.
Toss has already made moves into the Web3 space. Last year, the company filed dozens of trademarks related to stablecoins and is developing a Web3 wallet deeply integrated with its mobile platform.
