South Korean Crypto Exchange UpBit Launched Ethereum L2 Giwa
South Korean crypto exchange Upbit has announced the launch of Ethereum layer-2 Giwa on testnet — a move that could see it expand past its role as a crypto exchange.
Upbit, South Korea’s largest crypto exchange by trading volume, confirmed the news at the Upbit D Conference 2025 on Monday.
Giwa (short for Global Infrastructure for Web3 Access) will leverage the Optimism Foundation’s OP Stack to achieve one-second block times while inheriting Ethereum’s security to settle transactions, according to Giwa’s documentation.
The goal of Giwa is to make Web3 infrastructure “easy and fun for everyone,” it said in the Korean-translated document.
Other exchanges that have launched their own blockchains include Coinbase, which…
