Upbit, Optimism Launch GIWA Chain on OP Stack

Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, has signed a memorandum of understanding with Optimism to build GIWA Chain, a new Ethereum Layer 2 blockchain built on the OP Stack.

The partnership positions Dunamu as the latest major exchange operator to pursue its own blockchain infrastructure rather than relying solely on existing networks. GIWA Chain will use the OP Stack, the modular framework that underpins Optimism's Superchain ecosystem, according to an Optimism blog post detailing the agreement.

A testnet block explorer for GIWA Chain is already live on Ethereum's Sepolia test network, suggesting development has progressed beyond the planning stage.

Why the OP Stack Choice Signals an Infrastructure Bet

The OP Stack is the open-source development kit behind Optimism's Layer 2 rollup. Chains built on it share a common security model and can interoperate within the broader Superchain, a network of OP Stack-based rollups that settle on Ethereum.

By selecting the OP Stack, Dunamu is aligning GIWA Chain with Ethereum's rollup-centric scaling roadmap. The decision mirrors a broader pattern of exchange operators launching dedicated chains, similar to how major financial institutions have begun deploying blockchain-native products on established infrastructure.

For Optimism, the MOU adds one of Asia's most prominent crypto companies to its ecosystem. Upbit consistently ranks among the highest-volume exchanges globally, and Dunamu's commitment to OP Stack infrastructure could drive meaningful user activity to the Superchain.

Key Details Still Missing

The announcement confirms the partnership, the GIWA Chain name, and the OP Stack foundation, but several critical details remain unresolved.

No mainnet launch date has been disclosed. The MOU structure suggests the project is still in early coordination, with technical specifications, governance design, and token plans yet to be finalized.

It is also unclear how GIWA Chain will integrate with Upbit's existing exchange operations. Whether the chain will serve as a settlement layer for exchange transactions, a platform for decentralized applications, or a broader ecosystem play has not been specified. Developments like recent exchange acquisitions in the infrastructure space suggest that major platforms are increasingly investing in vertical integration.

Future announcements from Dunamu and Optimism will determine whether GIWA Chain becomes a significant addition to the OP Stack ecosystem or remains a limited-scope initiative. Readers should watch for testnet milestones, developer documentation, and any formal timeline commitments as the project matures.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.