Upbit Rumored to Launch GIWA Layer-2 Chain on Ethereum Amid Asian Crypto Surge
Online reports from Asian crypto communities on Monday suggest that Korea’s largest crypto exchange, Upbit, is set to launch GIWA, a Layer-2 chain built on Ethereum.
While the rumored GIWA website is yet to be officially confirmed, CoinDesk reported that Upbit’s parent company, Dunamu, has already filed trademark applications for the proposed name of the layer-2 chain.
Upbit is now set to lock horns with Binance’s BNB Chain and Coinbase’s Base Network, as the race for global crypto market dominance heats up. As custodian for 9 of the 11 active US crypto ETFs, Coinbase dominates US institutional markets while Upbit has cornered over 80% of daily crypto trading volume in Korea.
The GIWA L2 launch could expand Upbit’s…
