South Korea’s UpBit Launches Ethereum Layer-2 Giwa Testnet
South Korea’s cryptocurrency market receives a significant boost as UpBit launches its Ethereum Layer-2 network, Giwa, on testnet. The launch positions South Korea’s largest exchange by volume as a major infrastructure player. UpBit announced Giwa at the UpBit D Conference 2025, marking the exchange’s evolution beyond traditional trading services.
UpBit Giwa Layer-2 Testnet Features Lightning-Fast Block Times
Giwa leverages the OP Stack’s modular rollup framework and targets one-second block intervals. The blockchain delivers one-second block times, near-real-time transactions, and full support for Ethereum tools and smart contracts. Since the chain’s code is written in Solidity, the same programming language used for Ethereum, developers can build on Giwa using the tools they already have.
The testnet demonstrates impressive performance metrics. Giwa Sepolia’s public metrics show over 4 million blocks added on the testnet, indicating sustained, high-frequency block production. The network has entered the testnet phase, allowing teams to validate reduced latency, improve throughput, and assess state transition integrity under controlled conditions.
Ethereum Layer-2 Giwa Addresses Network Scalability Challenges
GIWA is designed to address Ethereum’s network congestion while maintaining compatibility with existing infrastructure. Giwa stands for Global Infrastructure for Web3 Access and emphasizes usability and customization. The Layer-2 solution enables developers to migrate existing Ethereum applications seamlessly.
Development tools are built into Giwa’s testnet — Giwa Sepolia — enabling the migration of Ethereum Virtual Machine-compatible applications. This compatibility reduces barriers for developers seeking faster transaction processing. The network’s architecture supports complex smart contracts while delivering superior performance.
UpBit Giwa Testnet Competes with Major Exchange Chains
Upbit is now set to lock horns with Binance’s BNB Chain and Coinbase’s Base Network, as the race for global crypto market dominance heats up. Google, Stripe, and Sony Group have also launched a chain or announced an intention to do so in 2025. The competitive landscape intensifies as traditional companies enter the blockchain infrastructure.
UpBit’s strategic positioning extends beyond basic exchange functionality. The initiative positions Upbit beyond exchange services toward infrastructure for Web3 access. This expansion aligns with broader industry trends where exchanges become comprehensive blockchain ecosystems.
Giwa Ethereum Layer-2 Roadmap Includes Native Wallet Integration
The company plans to launch a native wallet system for the network named Giwa Wallet. Upbit is also preparing a companion GIWA Wallet to facilitate user onboarding and transaction management within the Layer-2 ecosystem. The wallet integration streamlines user experience across the platform.
Giwa is currently on testnet, while Dunamu is gearing up for the mainnet launch. While it didn’t state when a Giwa mainnet would launch, the testnet performance suggests rapid development progress. UpBit’s parent company, Dunamu, is committed to long-term blockchain infrastructure development.
UpBit Ethereum Layer-2 Launch Strengthens Asian Market Position
The Giwa testnet launch reinforces South Korea’s position in the global cryptocurrency ecosystem. UpBit’s infrastructure expansion creates opportunities for domestic blockchain projects and developers. The Layer-2 solution addresses regional demands for faster, more cost-effective transactions.
At Upbit D Conference (UDC) 2025 on Tuesday, Dunamu CEO Oh Kyung-seok said in his speech that Giwa will be a blockchain focused on accessibility and developer experience. The leadership commitment indicates substantial resource allocation for the project.
Conclusion
UpBit’s Giwa testnet represents a significant milestone in South Korea’s blockchain development. The Layer-2 solution’s one-second block times and Ethereum compatibility position it as a competitive infrastructure option. The platform’s focus on developer tools and user accessibility demonstrates UpBit’s strategic vision beyond traditional exchange services.
