What You Need to Know:

• The parent company of Upbit, Dunamu, has lodged trademark applications for a new blockchain initiative dubbed “GIWA,” prompting rumors about its network aspirations.
• A dedicated website for GIWA has already launched, featuring a countdown timer indicating that the project may be announced shortly, just ahead of the Upbit Developer Conference (UDC).
• This strategic move aligns with recent trends in the crypto market, where exchanges are rolling out their own blockchain platforms, mirroring initiatives from firms like Coinbase, OKX, and Binance.

The parent company of the South Korean cryptocurrency exchange Upbit, Dunamu, has recently filed multiple trademark applications associated with the upcoming blockchain project named “GIWA.” This has ignited discussions on various social media platforms. The available trademark filings showcase stylized letters alongside what could be the project’s logo.

The discussions about this potential blockchain were sparked by a post on X where a user mentioned that a friend attending the UDC had heard rumors about the new network. This has gained traction, but both Upbit and Dunamu have yet to confirm the rumors.

A website linked to the GIWA project is live, showcasing a countdown suggesting an announcement could happen soon, coinciding with the UDC scheduled for September 9 in Seoul, South Korea.

Several other cryptocurrency exchanges have launched or supported their own blockchain networks recently, including Coinbase’s Base and Binance’s BNB Chain. Notably, Stripe and Paradigm have recently unveiled a new blockchain named Tempo, designed for quick stablecoin transactions and backed by major partners such as Anthropic, OpenAI, Revolut, and Deutsche Bank.

CoinDesk has attempted to reach both Upbit and Dunamu for comments, but no responses have been received at this time.