Dunamu Files GIWA Trademarks, Signals Bold Blockchain Move

Dunamu, the parent company of South Korea’s leading cryptocurrency exchange Upbit, has reportedly filed trademark applications for a new blockchain initiative named GIWA, according to recent filings and industry rumors. The trademarks cover a range of blockchain-related technologies, including digital asset infrastructure and blockchain software. The filings also include stylized logos associated with the name GIWA, suggesting the potential development of a branded blockchain platform or ecosystem [1].

Industry analysts speculate that the GIWA project could represent Dunamu’s foray into developing its own layer 1 or layer 2 blockchain network. Such a development would position the company to support digital assets, on-chain applications, or identity systems, potentially aligning with broader trends in the crypto industry where exchanges are increasingly backing their own blockchain networks [2]. These include projects like Coinbase's Base, Binance's BNB Chain, and OKX's OKChain. Dunamu has not issued an official statement confirming the project’s nature or timeline [1].

A website linked to the GIWA name is already active and features a countdown, suggesting an imminent announcement. This timing coincides with the Upbit Developer Conference (UDC), scheduled for September 9 in Seoul [2]. The countdown feature implies a strategic rollout plan that could generate significant industry interest and media attention during the conference. Dunamu has not responded to queries seeking confirmation of these plans [2].

The rumored GIWA blockchain may be built on Ethereum as a layer 2 chain, according to reports from Asian crypto communities [3]. If this is accurate, the project could position Upbit as a key competitor in the global blockchain and crypto market, directly challenging platforms like Binance’s BNB Chain and Coinbase’s Base Network. Upbit already holds a dominant position in South Korean crypto trading, with over 80% of the country’s daily trading volume. The GIWA initiative could expand this influence and support the development of Asian-native decentralized financial (DeFi) applications for both local and global markets [3].

Recent macroeconomic and geopolitical trends in Asia further highlight the strategic importance of such an initiative. As China and other Asian economies continue to diversify away from the US dollar, demand for Bitcoin in the region has surged. On-chain data from platforms like CryptoQuant show a steady rise in the Bitcoin Korean Premium Index, indicating heightened local demand [3]. This trend aligns with global shifts in central bank reserves, where gold and digital assets are gaining traction relative to US Treasuries. The GIWA launch could therefore amplify these trends and contribute to increased adoption of digital assets across the region.

Dunamu’s potential entry into the blockchain infrastructure space through the GIWA project reflects broader industry movements toward decentralization and localized blockchain development. The project’s success will depend on the platform’s technical capabilities, governance model, and the extent of developer and user adoption. As the announcement date approaches, industry observers will be closely monitoring the details, which could shape the future of blockchain innovation in South Korea and beyond.

Source:

[1] Upbit operator rumored to launch GIWA chain (https://cryptobriefing.com/upbit-launches-giwa-chain-blockchain-announcement/)

[2] Upbit Parent Files 'GIWA' Trademarks Amid Rumors of ... (https://www.coindesk.com/web3/2025/09/08/upbit-parent-files-giwa-trademarks-amid-rumors-of-new-blockchain-launch)

[3] Upbit Rumored to Launch GIWA Layer-2 Chain on Ethereum ... (https://finance.yahoo.com/news/upbit-rumored-launch-giwa-layer-210610619.html)

[4] Upbit to Launch 'GIWA' Chain, Expanding Blockchain ... (https://www.kucoin.com/news/flash/upbit-to-launch-giwa-chain-expanding-blockchain-offerings)