{
  "id": 8173602,
  "title": "Toss tests blockchain system for public payments",
  "url": "https://urgent.news/2026/09/18/toss-tests-blockchain-system-for-public-payments",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T04:57:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/companies/20260918/toss-tests-blockchain-system-for-public-payments"
  },
  "original_language": "en",
  "account": "South Korea's leading financial super-app, Toss, has successfully tested a blockchain-based public payment infrastructure in collaboration with the country's state-run Korea Minting, Security Printing and ID Card Operating Corp. The proof of concept aims to connect digital currency with existing payment systems, as announced by the companies on Friday. This development comes after a memorandum of understanding was signed in April, focusing on the feasibility of blockchain-based digital currency integration with public payment infrastructure.\n\nTo validate the system, Toss and Korea Minting, Security Printing and ID Card Operating Corp. established a separate test environment specifically for local love gift certificates. They then implemented the entire payment process, starting from charging gift certificate tokens using blockchain-based digital currency, through to payments and merchant settlements. The system leverages Optimism, an Ethereum layer 2 network, to process transactions while bridging digital currency transfers with those handled by the existing payment systems.\n\nIn addition to the transaction processing demonstration, the companies also evaluated Privacy Boost, a privacy solution aimed at safeguarding sensitive transaction information from visibility on a public blockchain during payments.",
  "summary": "Toss, Korea’s dominant financial super-app, has completed a proof of concept with the state-run Korea Minting, Security Printing and ID Card Operating Corp. for a blockchain-based public payment infrastructure connecting digital currency with existing payment systems, the companies said Friday. The project follows a memorandum of understanding signed in April and examines whether blockchain-based…",
  "key_points": [
    "South Korean financial app Toss tests blockchain-based public payment system",
    "Collaboration with Korea Minting, Security Printing and ID Card Operating Corp.",
    "Optimism layer 2 network used for transaction processing"
  ],
  "editors_take": "This successful test means that blockchain-based digital currency can now be integrated with existing public payment systems, potentially expanding the use of digital currency in everyday transactions.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Toss tests blockchain system for public payments",
        "url": "https://urgent.news/2026/09/18/toss-tests-blockchain-system-for-public-payments-8175669",
        "published": "2026-09-18T05:07:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}