South Korea’s largest crypto exchange is gearing up for the launch of its own blockchain network.
Summary
- South Korea’s largest crypto exchange is gearing up for a blockchain reveal
- Upbit has acquired the Giwa trademark and posted a timer ahead of the UDC conference
- The exchange’s parent company secured Eric Trump as a speaker on the conference
South Korea’s largest crypto exchange, Upbit, has dropped a major teaser on its own blockchain, Giwa, and will likely unveil it during the Upbit D Conference on September 9. Ahead of the conference, several social media users noted that Dunamu, Upbit’s parent company, filed for a trademark for the Giwa name and logo.
At the same time, users discovered a countdown timer on the giwa.io website, which is set to run out on September 9. This timing coincides with the start of the Upbit D Conference, likely counting down to the grand reveal at the event.
The annual event, titled “Blockchain, to the Mainstream,” will be held in Seoul. Dunamu secured several high-profile speakers for the event, including Eric Trump, the executive vice president of the Trump Organization, who will be a keynote speaker. Executives from Tether and Ripple will also be speaking at the event.
Giwa reported to launch Layer 1 network
Upbit itself did not post any information on the network on its website or on its social media. However, according to CoinTelegraph, the new network will be a layer 1 chain. What is more, in Korean, Giwa refers to iconic Korean traditional roof tiles, and is likely a nod to interlocking and modular design.
The exchange’s apparent move to create its own blockchain is not the only signal to move beyond crypto trading. In July, the exchange partnered with fintech platform Naver Pay to launch its own stablecoin, denominated in Korean won.
