Upbit operator rumored to launch GIWA chain

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Key Takeaways

Upbit, South Korea’s largest crypto exchange, is launching a blockchain network called ‘Giwa’ chain.
This move signifies Upbit’s entry into blockchain infrastructure development, expanding its business beyond exchange services.

Dunamu, the company behind South Korea’s leading crypto exchange Upbit, is rumored to be developing a new blockchain project under the name GIWA, according to newly surfaced trademark filings.

Upbit operator rumored to launch GIWA chain

The trademark applications cover blockchain software, digital asset infrastructure, and crypto-related technologies. Both filings include stylized logos alongside the GIWA name, suggesting development of a branded blockchain platform or ecosystem.

Industry observers suggest Dunamu may be developing its own layer 1 or layer 2 blockchain network to support digital assets, on-chain applications, or next-generation identity systems. The company has not made any public statements about trademark filings.

The news comes as Dunamu prepares for its annual UDC 2025 (Upbit D Conference) scheduled for September 9 in Seoul at the Grand InterContinental Seoul Parnas.

Eric Trump and former US Congressman Patrick McHenry are among the high-profile speakers at UDC 2025, alongside executives from stablecoin issuers Tether and Ripple. The conference focuses on blockchain innovation, digital asset regulation, stablecoins, and the mainstream adoption of blockchain technology.