Giwa: Upbit’s New Breakthrough in Layer-2 Ethereum Blockchain
Jakarta, Pintu News – South Korean crypto exchange Upbit recently launched a trial version of the Ethereum layer-2 blockchain called Giwa. This initiative is a big step for Upbit in expanding its range of services beyond just crypto trading.
Giwa, which stands for Global Infrastructure for Web3 Access, is built using Optimism Foundation’s OP Stack and aims to process transactions in just one second per block.
Check out the full information below!
Introduction to Giwa and its Potential
Giwa is designed to make it easy and fun for users to access Web3 infrastructure. By using Ethereum security for transaction settlement, Giwa promises high efficiency in transaction processing. The name Giwa itself is inspired by the curved clay tiles used on the roofs of houses, palaces, and temples in Korea, symbolizing heritage and protection.
Currently, Giwa operates on a test network called Giwa Sepolia. This network already supports Ethereum-compatible smart contracts and has its own block explorer. More than 4 million blocks have been processed on this test network, indicating that development has been actively underway for several weeks.
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Upbit Leads South Korean Crypto Market
Upbit is one of the largest crypto exchanges in South Korea, accounting for around 73% of local trading. According to data from CoinGecko, Upbit ranks as the 20th largest exchange in the world with a trading volume of $2.5 billion in the last 24 hours. This shows Upbit’s strategic position in the global crypto market.
In addition, according to a report from Chainalysis, South Korea is now the second largest crypto market by volume on-ramp from July 2024 to June 2025, registering $1 trillion in volume. This puts South Korea behind only the United States, which recorded $4.2 trillion.
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Upbit Expansion and Diversification
In recent months, Upbit has been actively expanding the list of tokens it offers. Some of the new tokens added include Maple Finance (SYRUP), Huma Finance (HUMA), Moodeng , Ravencoin , DEEP Token, Filecoin , ORCA, Bitcoin Gold (BTG), and Moca Token (MOCA).
These tokens are available in KRW, Bitcoin , and Tether trading pairs. This expansion not only increases trading volume but also provides more options for Upbit users. With this diversification, Upbit seeks to meet the needs of a diverse range of crypto users, both experienced and novice.
Conclusion
Upbit’s launch of Giwa marks a new era in the development of a faster and more secure Web3 infrastructure. By continuously expanding its services and adopting the latest technologies, Upbit has the potential to strengthen its position as a crypto market leader in South Korea and globally.
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Reference
- Crypto Times. South Korea’s Upbit Rolls Out Ethereum Layer 2 Blockchain Giwa. Accessed on September 10, 2025
- Featured Image: Bloomingbit
