Blockchain infrastructure company Optimism said it is stepping up its business in South Korea, disclosing partnerships with Dunamu’s GIWA blockchain, fintech firm Toss and DB Financial Investment. It plans to expand on-chain finance infrastructure for local financial institutions, fintech and digital asset companies through OP Enterprise. The firm said it has signed memorandums of understanding with Dunamu and Toss and will cooperate with DB Financial Investment on STO and RWA projects linked to Jeju.

Viva Republica, operator of South Korean fintech app Toss, is launching a blockchain-based digital financial infrastructure proof of concept to review the feasibility of developing a won-pegged stablecoin. Toss said it signed a three-way memorandum of understanding with Layer 2 blockchain Optimism and privacy solution developer Sunnyside Labs. The three companies will run a three-month PoC to test whether Optimism’s OP Stack can be applied to domestic blockchain-based financial infrastructure.