Upbit Teases New Blockchain Project “Giwa” with Countdown

The post Upbit Teases New Blockchain Project “Giwa” with Countdown appeared first on Coinpedia Fintech News

What is Giwa?

South Korea’s biggest crypto exchange, Upbit, has sparked excitement with a teaser for a new blockchain project called “Giwa.” The teaser site only shows the phrase “trusted structure, not just shape” along with a countdown. The full reveal is expected at the upcoming Upbit Developer Conference.

Crypto Community Buzz

The lack of details hasn’t stopped speculation. Many believe Giwa could be a new Layer-1 blockchain aiming to compete with global networks. Others suggest it may be a Layer-2 solution designed to scale within South Korea’s strict regulatory framework.

Another strong possibility is a won-backed stablecoin, which would align with Korea’s push for safe and compliant Web3 adoption.

Why Giwa Could Matter

Upbit is known for its influence in South Korea’s crypto market. Its token listings often move markets, and its decisions impact far beyond the country. Launching its own blockchain could create:

• A new liquidity hub
  
• A full DeFi and payments ecosystem
  
• Institutional-grade infrastructure
  

If successful, Giwa may boost South Korea’s role in global Web3 while giving Upbit more control over its ecosystem—similar to global exchanges building their own proprietary blockchains.

Countdown Mystery

Right now, Giwa remains a mystery. Key questions include:

• Will it be a Layer-1 with unique features?
  
• A Layer-2 optimized for compliance?
  
• Or a stablecoin network focused on domestic stability?
  

The answers are expected at the Upbit Developer Conference, making this one of the exchange’s most anticipated announcements in years.

Impact on South Korea’s Web3 Push

With Giwa, Upbit may be laying the foundation for a domestic Web3 ecosystem that connects both retail and institutional users. This move fits into a global trend where major exchanges launch their own blockchains to capture liquidity, foster innovation, and keep users within their networks.