South Korean fintech giant Toss plans to launch a native cryptocurrency

Jinse Finance reported on April 7 that, according to local news outlet Blockmedia, South Korean fintech giant Toss is considering launching a native cryptocurrency on a Layer 1 mainnet and may also introduce a Layer 2 network to achieve scalability. The report, citing sources familiar with the matter, stated that Toss has not yet decided whether to launch a Layer 1 network or a Layer 2 network. Reportedly, the decision-making process is being hindered by delays in the implementation of South Korea's "Basic Digital Assets Act," a comprehensive rulebook on cryptocurrency that covers areas such as token issuance, stablecoins, and crypto ETFs.