South Korean crypto exchange Upbit launches Ethereum L2

South Korean crypto exchange Upbit confirmed it has launched Giwa, an Ethereum layer 2 on testnet, focused on one-second block times and optimizing user experience.

South Korean crypto exchange Upbit has announced the launch of Ethereum layer-2 Giwa on testnet — a move that could see it expand past its role as a crypto exchange.

Upbit, South Korea’s largest crypto exchange by trading volume, confirmed the news at the Upbit D Conference 2025 on Monday. 

Giwa (short for Global Infrastructure for Web3 Access) will leverage the Optimism Foundation’s OP Stack to achieve one-second block times while inheriting Ethereum’s security to settle transactions, according to Giwa’s documentation. 

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