Upbit's Bold Move: Launching Ethereum Layer 2 'Giwa' for Enhanced Efficiency

By: Eliza Bennet

In a strategic move to bolster its presence in the blockchain infrastructure space, South Korean cryptocurrency exchange Upbit has introduced Giwa, an Ethereum Layer 2 solution. Unveiled during the Upbit D Conference 2025, Giwa is currently undergoing testing on its testnet. The initiative marks a significant expansion for Upbit, traditionally known as one of South Korea's leading crypto exchanges by trading volume.

Giwa, an acronym for Global Infrastructure for Web3 Access, is engineered to optimize user experience by achieving rapid transaction times. Built on the Optimism Foundation's OP Stack, this layer 2 solution promises one-second block times, while maintaining Ethereum's robust security protocols. This development positions Upbit favorably in the increasingly competitive landscape of blockchain infrastructure, where speed and security are pivotal.

By integrating with Optimism's OP Stack, Giwa aims to streamline transactions and reduce congestion on the Ethereum mainnet. This approach not only enhances transaction throughput but also alleviates traditional Ethereum network constraints, which have been a bottleneck for broader blockchain adoption. The move underscores Upbit's commitment to innovating and adapting to new technological advancements that can facilitate swift and seamless web3 accessibility.

As the testnet phase progresses, Upbit's meticulous focus will be on refining Giwa's capabilities to ensure it meets the growing demands of users seeking efficient and dependable blockchain solutions. This venture not only amplifies Upbit's operational capabilities but also potentially sets a new benchmark in the arena of crypto exchanges expanding their infrastructural services.