Ethereum

Base

Optimism

<h3 id="b-quick-breakdown-b-span-style-font-weight-400-span">Quick Breakdown&nbsp;</h3>
<ul>
 <li style="font-weight: 400;">Upbit has launched Giwa, an Ethereum layer-2 testnet with one-second block times.</li>
 <li style="font-weight: 400;">The blockchain supports EVM compatibility and is built on Optimism’s OP Stack.</li>
 <li style="font-weight: 400;">South Korea remains a global crypto powerhouse, with Upbit leading its domestic market.</li>
</ul>
<h3 id="span-style-font-weight-400-south-korea-s-largest-exchange-steps-into-blockchain-development-span">South Korea’s Largest Exchange Steps Into Blockchain Development</h3>
Upbit, South Korea’s dominant crypto trading platform, has announced the launch of its own Ethereum layer-2 network, Giwa, now live on testnet. The exchange <a style="color: #0000ff;" href="https://x.com/Official_Upbit/status/1965203504282452261" rel="noopener noreferrer nofollow">revealed</a> the development at the Upbit D Conference 2025, underscoring its ambition to evolve beyond trading services and position itself as a key Web3 infrastructure provider.
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f534.png" alt="🔴" style="height: 1em; max-height: 1em;"> ON AIR | UDC 2025 실시간 스트리밍
 UDC 2025 키노트 세션 온라인 스트리밍이 시작되었습니다! <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f44f.png" alt="👏" style="height: 1em; max-height: 1em;"> 온라인으로 글로벌 블록체인의 흐름을 함께하세요 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f680.png" alt="🚀" style="height: 1em; max-height: 1em;">
 UDC 2025 키노트 세션 실시간 스트리밍 바로가기<a href="https://t.co/QMncFeYIl5" rel="noopener noreferrer nofollow">https://t.co/QMncFeYIl5</a> *2025. 9. 9.(화) 09:00부터 12:00까지 진행
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f4a1.png" alt="💡" style="height: 1em; max-height: 1em;"> 에릭 트럼프,…
 — Upbit Korea (@Official_Upbit) <a href="https://twitter.com/Official_Upbit/status/1965203504282452261?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 9, 2025</a>
</blockquote>

<h3 id="span-style-font-weight-400-built-on-op-stack-with-one-second-blocks-span">Built on OP Stack With One-Second Blocks</h3>
<a style="color: #0000ff;" href="https://docs.giwa.io/" rel="noopener noreferrer nofollow">According</a> to project documentation, Giwa, short for Global Infrastructure for Web3 Access, is built on the Optimism Foundation’s OP Stack, enabling one-second block times while settling securely on Ethereum. The testnet, dubbed Giwa Sepolia, already supports Ethereum Virtual Machine (EVM)-compatible contracts and includes a functioning block explorer to track activity.
Developers can migrate contracts seamlessly, while the network’s open-source foundation ensures flexibility for future upgrades as Optimism’s tech stack evolves.
<h3 id="span-style-font-weight-400-inspiration-from-korean-heritage-span">Inspiration From Korean Heritage</h3>
The name Giwa draws inspiration from traditional curved roof tiles found on Korean palaces and temples, symbolizing heritage and protection. Activity on its GitHub <a style="color: #0000ff;" href="https://github.com/giwa-io" rel="noopener noreferrer nofollow">suggests</a> work has been ongoing for several weeks, though the more than four million blocks already added hint that the chain may have been live earlier.
<h3 id="span-style-font-weight-400-part-of-a-growing-trend-among-exchanges-span">Part of a Growing Trend Among Exchanges</h3>
Upbit now joins a list of exchanges turning into blockchain builders. Coinbase launched its layer-2 Base in 2023, while Binance created BNB Chain in 2019. Beyond exchanges, major firms including Google, Stripe, and Sony Group have also launched or announced plans to roll out blockchain networks in 2025.
<h3 id="span-style-font-weight-400-south-korea-s-crypto-market-remains-dominant-span">South Korea’s Crypto Market Remains Dominant</h3>
With around 73% of South Korea’s crypto trading volume, Upbit processed $2.5 billion in the past 24 hours, ranking 20th globally, according to CoinGecko. South Korea’s influence extends beyond trading; the Chainalysis 2025 Global Adoption Index <a style="color: #0000ff;" href="https://defi-planet.com/2025/09/u-s-overtakes-most-markets-in-global-crypto-adoption-trails-only-india-chainalysis/" rel="noopener noreferrer nofollow">ranked</a> the country second worldwide in crypto on-ramp volume at $1 trillion over the past year, trailing only the United States.
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The post <a href="https://defi-planet.com/2025/09/upbit-unveils-giwa-ethereum-layer-2-testnet-signaling-expansion-beyond-exchange/" rel="noopener noreferrer nofollow">Upbit Unveils Giwa Ethereum Layer-2 Testnet, Signaling Expansion Beyond Exchange</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Upbit Unveils Giwa Ethereum Layer-2 Testnet, Signaling Expansion Beyond Exchange

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