#optimism foundation

➤ Upbit, through its parent company Dunamu, has launched GIWA Chain, a self-managed blockchain built on the Optimism OP Stack, granting it full operational control. ➤ This sovereign infrastructure aims to meet South Korean regulatory demands for institutional adoption and will serve as the settlement backbone for various Web3 services, including tokenized RWAs and stablecoin payments. ➤ The initiative is part of Dunamu's broader strategy to become a global fintech conglomerate, potentially merging with Naver Financial, and sets a new standard for exchange-owned blockchain infrastructure.

➤ Dunamu, the operator of Upbit, is partnering with the Optimism Foundation to launch GIWA Chain, an enterprise Layer 2 solution built on the OP Stack. ➤ GIWA Chain aims to enhance Upbit's capabilities by offering improved usability, fast performance, and EVM compatibility, with a focus on institutional and retail user needs. ➤ This initiative signifies a trend towards exchanges managing their own blockchain infrastructure, with plans to integrate Korean won-backed stablecoins for real-world payments.