South Korea’s top crypto exchange, Upbit, is preparing to introduce its own blockchain, tentatively named “Giwa.” Although the company has yet to make an official announcement, recent trademark filings suggest the project is already in motion.
What We Know About Giwa
Upbit’s parent company, Dunamu, filed trademarks for “Giwa,” covering blockchain software, crypto infrastructure, and digital asset technology. The filings also include logos, hinting at a branded ecosystem that could support more than just exchange services.
Analysts believe Giwa could emerge as either a Layer 1 or Layer 2 blockchain. If so, it may provide support for decentralized applications, asset management, or even digital identity systems.
Why This Move Matters
Upbit’s potential leap into blockchain development signals a major expansion beyond its role as an exchange.
- If Giwa becomes a Layer 1 blockchain, Upbit could compete directly with established networks.
- A proprietary chain would allow Upbit to integrate services, launch its own token, and build a wider ecosystem.
- The strategy mirrors moves by other exchanges, such as Binance, which launched its own network to strengthen its market position.
Timing and What’s Next
The timing of these filings is notable, as they arrive just before the Upbit Developer Conference (UDC 2025) on September 9 in Seoul. Dunamu often uses this annual event to reveal new products and initiatives, making it a likely stage for a formal Giwa announcement.
For now, the crypto community is waiting to see if Giwa will confirm Upbit’s entry into the blockchain race or remain just a trademark on paper.
