Upbit, South Korea’s largest cryptocurrency exchange, is making a bold move into the blockchain space with the upcoming launch of its own blockchain network, named Giwa. The exchange has dropped significant hints about the blockchain’s unveiling, which is expected to take place at the Upbit D Conference on September 9.
Social media users noted that Dunamu, Upbit’s parent company, had filed for a trademark for the Giwa name and logo, further fueling speculation about the upcoming launch. Additionally, a countdown timer appeared on the official giwa.io website, set to expire on the same day as the conference, indicating that the blockchain reveal will coincide with the event.
Seems legit, Dunamu filed the trademark for it????@Official_Upbit #upbit #L2 #giwa pic.twitter.com/RrOKBZy2Bc
— Anna (@anna__yoon) September 8, 2025
Key event details and speakers
The Upbit D Conference, which takes place in Seoul under the theme “Blockchain, to the Mainstream,” is set to feature several prominent figures from the blockchain and crypto industries. Notably, Eric Trump, Executive Vice President of the Trump Organization, will deliver the keynote address. In addition, executives from leading firms like Tether and Ripple will also be speaking at the event, offering further insight into the developments within the blockchain space.
Although Upbit has not officially disclosed details about Giwa on its website or social media channels, reports suggest that the new network will be a Layer 1 blockchain. This would position Giwa as a significant player in the blockchain ecosystem, potentially expanding Upbit’s influence beyond its crypto exchange operations.
The meaning behind the name “Giwa”
The name Giwa, which refers to traditional Korean roof tiles in Korean, is likely a symbolic reference to the modular and interlocking design of the new blockchain. This could reflect the platform’s emphasis on scalability and flexibility, which are key features for any Layer 1 network.
Upbit’s broader strategy: moving beyond crypto trading
The launch of the Giwa blockchain is part of a broader trend where Upbit is looking to diversify its operations beyond just crypto trading. In July, Upbit made another major move by partnering with Naver Pay, a leading fintech platform, to launch a stablecoin denominated in the Korean won. This initiative further signals Upbit’s ambitions to expand into various areas of the digital finance ecosystem, offering more than just a crypto exchange.