The fintech company behind Toss, Viva Republica said Friday it signed an agreement to acquire a 60 percent stake in VCNC, the operator of Tada.
Toss Bank, the country's third internet bank, started operations Tuesday with a promise to simplify customers' lives.
Toss makes its official debut as the country’s third online bank on Tuesday. Toss, a fintech company founded in 2013, already has 1 million people applying for time deposit accounts, thanks to the generous 2 percent interest rates it is offering.
Toss Bank started taking registrations for its banking service Friday ahead of its official opening scheduled in October.
Toss will not charge commissions for transfers, choosing to lose money on every transaction ahead of the opening of Toss Bank.
Phone companies and Korean internet giants teamed up with the Korea Disease Control and Prevention Agency (KDCA) on a vaccination status system, the closest thing yet to a vaccine passport.
Toss Bank will open in September as it has obtained a license to operate as the country's third internet-only bank, after K bank and KakaoBank.
Toss Securities opened its mobile stock trading service to all users on Monday.
Toss Securities began its mobile stock trading service for 1,000 users on Monday.
Toss Securities demonstrated its mobile trading system, which will be made available later this month.