In a significant move reflecting its ambitions in the blockchain space, Upbit, South Korea’s largest cryptocurrency exchange, is poised to launch a new blockchain network named ‘Giwa.’ This initiative marks Upbit’s entry into the realm of blockchain infrastructure development, indicating a strategic expansion beyond its traditional exchange services.
Dunamu, the parent company of Upbit, has recently filed for trademarks related to the GIWA project, revealing plans that encompass blockchain software, digital asset infrastructure, and various crypto-related technologies. These trademark applications include stylized logos that accompany the GIWA name, hinting at the development of a proprietary blockchain platform or ecosystem.
Industry analysts speculate that Dunamu may be on the verge of introducing its own layer 1 or layer 2 blockchain network. Such a network could potentially support a wide range of applications, from digital assets and on-chain services to advanced identity systems. Despite the intriguing developments, Dunamu has yet to make any official statements regarding the trademark applications or the Giwa project.
This news arrives just ahead of Dunamu’s upcoming annual Upbit D Conference (UDC 2025), scheduled for September 9 in Seoul. The event, taking place at the Grand InterContinental Seoul Parnas, will feature prominent speakers, including Eric Trump and former US Congressman Patrick McHenry. Additionally, executives from key stablecoin issuers such as Tether and Ripple are set to participate. The conference aims to address crucial topics surrounding blockchain innovation, digital asset regulation, and the pathway to mainstream adoption of blockchain technology.
As the crypto landscape evolves, Upbit’s diversification efforts signal a notable shift, positioning the exchange as a key player in the development of new blockchain solutions. This potential expansion into infrastructure development could have significant implications for both the company and the broader cryptocurrency market in South Korea and beyond.
