Rumours Circulate of Upbit Developing Its Own Blockchain Network ‘GIWA’

South Korean cryptocurrency exchange Upbit, owned by Dunamu, is reportedly developing its own blockchain network, according to recent trademark filings. These filings, which cover a range of blockchain technologies, include descriptions for software, systems for digital identity, and infrastructure for issuing and selling digital assets. The name ‘GIWA’ has emerged as a potential indication of this endeavor, with its Korean meaning translating roughly to ‘Tile.’ This suggests GIWA might be aimed at providing a foundation for various on-chain apps.