Catenaa, Thursday, May 07, 2026-South Korea’s largest crypto exchange Upbit has launched a new Ethereum Layer 2 blockchain called GIWA Chain in partnership with the Optimism Foundation, marking a major step in exchange-led blockchain infrastructure development.
Upbit will operate the new network using Optimism’s OP Stack under a self-managed structure, giving the exchange full control over sequencing and transaction processing while receiving technical support from Optimism.
The GIWA Chain is the first deployment under Optimism’s Self-Managed enterprise tier, designed for large operators that want direct control over blockchain infrastructure instead of relying on external sequencer management.
The OP Stack has become widely used among institutional projects, with deployments across exchanges, decentralized finance platforms, and corporate blockchain initiatives. The system allows organizations to launch Ethereum-compatible networks with shared infrastructure standards.
Sequencers, which order transactions and determine block inclusion, play a central role in revenue generation and network control. For large exchanges, retaining sequencer control is viewed as essential for compliance and operational independence.
Safety and resilience design
Upbit’s chain includes a support arrangement with Optimism providing monitoring tools, fallback systems, and technical upgrades. This setup is designed to improve network resilience while maintaining exchange control over operations.
GIWA Chain is currently live on testnet, with full rollout expected after further testing and validation of performance and security systems.
Superchain ecosystem expansion
The Optimism ecosystem includes multiple independent chains that share interoperability standards and infrastructure tools under its Superchain framework. These networks contribute a portion of sequencing revenue back to the Optimism Collective while operating independently.
Other blockchain projects using the OP Stack include major exchange and corporate initiatives, though several have begun shifting toward more independent infrastructure control.
Crypto exchanges are increasingly developing their own blockchain networks to reduce dependency on external infrastructure providers and improve transaction efficiency. Ethereum Layer 2 systems allow faster and cheaper transactions while maintaining compatibility with the Ethereum network.
Upbit serves millions of users and ranks among the world’s largest crypto exchanges by trading volume. Its move into blockchain infrastructure reflects a broader trend of centralized exchanges expanding into protocol-level development.
Optimism has positioned its OP Stack as a leading solution for institutional blockchain deployment, offering modular tools for scalability, governance, and interoperability across networks.
