Wallets/toss-bank
Toss Bank
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Overview
Toss Bank is South Korea's third internet-only bank (after KakaoBank + K Bank), launched October 2021 by Viva Republica (operator of Toss app) [1, 2, kr-cro]. End-2025 baseline (Toss Bank's fixed-deposit-with-upfront-interest product) [1]:
- Subscribers: 700,000
- Cumulative accounts opened: 2.24 million
- Total cumulative deposit amount: 44.6751 trillion won (~$33.8B)
- Interest paid out to customers: 435.1 billion won (~$330M)
- Reinvestment rate: 47% (nearly half re-enrolled after maturity)
Distinctive Toss Bank vs Toss app (covered Batch 3): Toss Bank is the internet-only banking-license subsidiary of Viva Republica; Toss app is the consumer-finance-super-app sister product. Both operate under Viva Republica.
Demographics 2025: 40s = 26.1%; 50s = 24.1%; 30s = 22.4% — distinctive multi-generational adoption.
History
October 2021 — Toss Bank launches [2] as Viva Republica's internet-only banking-license subsidiary.
2021-2024 — Multi-million Korean adoption: Fixed-deposit product with upfront-interest innovation.
End-2025 — 2.24M cumulative accounts + 44.7T won (~$33.8B) cumulative deposits + 47% reinvestment rate [1].
Ownership & operator
Operating entity: Toss Bank Co., Ltd. (Viva Republica subsidiary).
Parent: Viva Republica Inc. (Korean fintech mega-startup; Toss app + Toss Bank + Toss Securities + Toss Insurance + Toss Place).
Major investors (Viva Republica): Kleiner Perkins + Altos Ventures + Goodwater Capital + Sequoia Capital + Greyhound Capital + GIC Singapore + Bessemer Venture Partners + KB Investment + Tencent + others.
Regulators: FSC (Financial Services Commission Korea) + FSS (Financial Supervisory Service Korea) — internet-only bank license.
Technical integration
| Layer | Description |
|---|---|
| Channels | Toss Bank mobile app (iOS + Android) + Toss Bank cards |
| Identifiers | Phone + Korean Resident Registration Number + card number |
| License | Internet-only bank (FSC-licensed; Korea's 3rd after KakaoBank + K Bank) |
| Sub-products | Toss Bank Account + Toss Bank Card + Fixed Deposits (upfront-interest innovation) + Toss Bank Loans + Toss Bank Foreign Exchange |
| Distinctive product: Fixed-deposit with upfront-interest payment to customers |
Users & growth
End-2025 baseline (Fixed Deposit Product metric) [1]:
- Subscribers: 700,000
- Cumulative accounts opened: 2.24 million
- Total cumulative deposits: 44.6751T won (~$33.8B)
- Interest paid to customers: 435.1B won (~$330M)
- Reinvestment rate: 47%
- Age demographics: 40s = 26.1%; 50s = 24.1%; 30s = 22.4%
Use cases
Korean retail digital banking (deposits + cards + loans + foreign exchange); fixed-deposits with upfront-interest payment innovation; Toss app + Toss Bank super-app + internet-only banking integration; Viva Republica multi-product Korean fintech ecosystem (Toss app + Toss Bank + Toss Securities + Toss Insurance + Toss Place).
Implementations & partners
Operator: Toss Bank Co., Ltd. (Viva Republica subsidiary).
Parent: Viva Republica Inc. (Korean fintech mega-startup).
Sister entities (under Viva Republica): Toss app (covered Batch 3) + Toss Securities + Toss Insurance + Toss Place.
Major Korean internet-only bank competitors:
- KakaoBank (Kakao-affiliated; KOSDAQ: 323410; Korea's #1 internet bank by users)
- K Bank (KT Corporation + Woori Bank-affiliated; Korea's first internet-only bank)
- KOMSCO Bank (planned)
Major Korean consumer-finance competitors:
- [[kakaopay]] (Batch 2; Kakao Pay; KakaoBank sister)
- [[naver-pay]] (Batch 3; Naver Financial)
- [[toss]] (Batch 3; Viva Republica Toss app sister to Toss Bank)
- PayCo (NHN PayCo)
Regulators: FSC + FSS.
Fun facts
- Korea's 3rd internet-only bank (after KakaoBank + K Bank); launched October 2021.
- End-2025 baseline (Fixed Deposit Product metric): 700K subscribers + 2.24M cumulative accounts + 44.7T won (~$33.8B) cumulative deposits + 435.1B won (~$330M) interest paid + 47% reinvestment rate.
- Distinctive product: Fixed-deposit with upfront-interest payment innovation.
- Demographics: 40s = 26.1%; 50s = 24.1%; 30s = 22.4% — multi-generational.
- Viva Republica multi-product ecosystem: Toss app + Toss Bank + Toss Securities + Toss Insurance + Toss Place.
- Investors include Kleiner Perkins + Altos Ventures + Goodwater Capital + Sequoia + GIC + KB Investment + Tencent.
Comparison
| Feature | Toss Bank | KakaoBank (KR #1 internet-only bank rival) | K Bank (KR 1st internet-only bank rival) | [[kakaopay]] (KR consumer-finance rival; Batch 2) | [[toss]] (sister consumer app; Batch 3) |
|---|---|---|---|---|---|
| Operator | Toss Bank Co., Ltd. (Viva Republica subsidiary) | KakaoBank (Kakao-affiliated; KOSDAQ: 323410) | K Bank (KT Corporation + Woori Bank-affiliated) | Kakao Pay | Toss (Viva Republica) |
| Type | KR 3rd internet-only bank + fixed-deposit upfront-interest innovation | KR #1 internet-only bank by users; Kakao-anchored | KR first internet-only bank (2017); KT + Woori-anchored | KR consumer-finance super-app + KakaoBank sister | KR consumer-finance super-app + Toss Bank sister |
| Country | South Korea | South Korea | South Korea | South Korea | South Korea |
| Users | End-2025: 2.24M cumulative accounts (Fixed Deposit metric) + 44.7T won (~$33.8B) deposits | Korea's largest internet bank by users | Major Korean internet bank | Major Kakao-ecosystem | Major Toss-ecosystem |
| Distinctive | 3rd KR internet bank; fixed-deposit upfront-interest innovation; 47% reinvestment rate; Viva Republica multi-product ecosystem; Kleiner Perkins + Sequoia + GIC + Tencent backed | KR #1 internet-only bank by users; KOSDAQ-listed | KR first internet-only bank (2017) | Kakao Pay super-app | Toss super-app |
Status
Active, Korea's 3rd internet-only bank with distinctive upfront-interest fixed-deposit innovation [1, 2]:
- Toss Bank Co., Ltd. (Viva Republica subsidiary) since October 2021.
- End-2025 Fixed Deposit Product metrics: 700K subscribers + 2.24M cumulative accounts + 44.7T won (~$33.8B) deposits + 435.1B won (~$330M) interest paid + 47% reinvestment rate.
- Multi-generational demographics: 40s = 26.1%; 50s = 24.1%; 30s = 22.4%.
- Viva Republica multi-product ecosystem: Toss app + Toss Bank + Toss Securities + Toss Insurance + Toss Place.
- FSC + FSS regulated internet-only bank.
Sources
- 1 Toss Bank Fixed Deposit + 2.24M accounts — Asia Economy
- 2 Toss Crunchbase profile
- 3 Open Toss Bank account from Korea — Instagram
- kr-cro In-corpus:
reports/countries/KR-south-korea.md
Source
Biography extracted from toss-bank.md. See matrix.md for standards-support matrix if present.