Toss delays US IPO to weigh valuation amid tighter oversight

Viva Republica, parent of South Korean fintech Toss, is delaying its US IPO and Nasdaq ADR listing, citing the need for proper recognition of its corporate value. It had targeted a 2026 listing with a valuation of 10–20 trillion won ($7–14 billion). In July 2026 Toss became the first fintech subject to Korea's large financial conglomerate oversight.

• Toss postponed its Nasdaq ADR listing and US IPO
• Expected valuation was 10–20 trillion won ($7–14 billion)
• In July 2026 Toss became first fintech under conglomerate oversight
• Toss FacePay has 5 million users and 30,000 retail locations