The South Korean Crypto Upbit exchange announced the launch of Ethereum Layer-2 Giwa on Testnet-a decision that could see it extend before its role of crypto exchange.
Upbit – The greatest Crypto exchange in South Korea in volume of negotiation – confirmed News from the Upbit D 2025 conference on Monday.
GIWA (abbreviation of the global infrastructure for web access) will take advantage of the OP battery of the Optimism Foundation Foundation to reach times of blocks of a second while inheriting the safety of Ethereum to settle transactions, according to to Giwa’s documentation.
Giwa’s goal is to make web infrastructure 3 “easy and fun for everyone,” he said in the Korean translated document.
The other exchanges that launched their own blockchains include Coinbase, which launched the base in August 2023 and the BnB BNB chain, which was created in 2019. The two allow developers to create applications on their respective layer blocks blocks.
Google, Stripe and Sony Group also launched a chain or announced an intention to do so in 2025.
Although it has not indicated when a Mainnet Giwa is launched, the development tools are integrated into the Testnet de Giwa – Giwa Sepolia – allowing the migration of virtual compatible contracts of Ethereum, while an explorer of blocks follow up The testnet activity is already operational.
According to the GIWA documentation, the Upbit blockchain will build blocks every second to perform almost real time transactions.
Giwa was also designed for flexibility, allowing personalization while the Open Source technological battery of the Optimism Foundation continues to evolve.
Giwa has been in preparation for at least a few weeks
Giwa’s development has been in preparation for at least three weeks, its GitHub account shows.
However, with more than 4 million blocks added to Giwa Sepolia, a block time rate of a second suggests that the chain may have been launched earlier.
The term Giwa seems to be derived from curved tiles seen on the roofs of palaces, temples and traditional houses of Hanok in South Korea which are generally made from clay cooked in the oven and symbolize heritage and protection.
South Korea was a leading crypto market in 2025
Upbit explains around 73% South Korean crypto trading and has experienced the 20th largest negotiation volume among crypto scholarships in the last 24 hours to 2.5 billion dollars, Coingecko data shows. Its high classification occurs despite its largely part of the South Korean market.
In relation: Korea of South Korea Caps Crypto loan rate at 20%, prohibit leverage loaks
The Global Global Adoption Adoption Adoption of Chainalysy 2025, published last Wednesday, has shown that South Korea recorded the second largest volume of ramp cryptography between July 2024 and June 2025 to 1 dollar billion – dragging only the United States to $ 4.2 billion of dollars.
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