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CryptoMediumUpdated×3•Originally published 4 May 2026•Updated 5 May 2026•

1 min read

Upbit Launches Ethereum-Based Blockchain with Optimism Foundation Support

Key Facts

1Upbit became the Optimism Foundation's first client on its self-managed enterprise tier to control its rollup architecture.

Dunamu Inc., the operator of South Korea's largest cryptocurrency exchange Upbit, has officially named its new network GIWA Chain following a formal agreement with the Optimism Foundation. Recent reports confirm that Upbit is utilizing the OP Stack software suite to develop this proprietary Layer 2 network, granting the exchange full control over its core rollup architecture. This strategic move makes Upbit the first client on the OP Enterprise self-managed tier, providing direct authority over transaction costs and regulatory adherence. By leveraging the OP Stack, Dunamu can maintain sovereign oversight of GIWA Chain operations while benefiting from Ethereum's robust security. The partnership highlights a growing trend of major exchanges developing proprietary scaling solutions to enhance their service offerings. This development is expected to significantly strengthen the Optimism ecosystem and accelerate blockchain adoption across Asia.

30 days ago

Version History

1 additional source confirmed this story

Version 330 days ago

What changed: The story was updated to specify the technical framework, confirming the use of the OP Stack software suite for the development of GIWA Chain.

Version 2about 1 month ago

What changed: Added specific details regarding Upbit's direct authority over transaction costs and regulatory compliance through the new network.

Version 1about 1 month ago

What changed: Identified the specific network name as 'GIWA Chain', named the parent company Dunamu Inc., and confirmed the signing of a formal MoU and control over the network sequencer.