Major Binance-Listed Altcoin to Partner with South Korea’s Largest Cryptocurrency Exchange

A notable collaboration in the cryptocurrency infrastructure field has been announced. Optimism (OP) Foundation and Dunamu, the parent company of South Korea-based cryptocurrency exchange Upbit, have signed a memorandum of understanding (MoU) for the development of GIWA Chain.

First announced by Upbit in September 2025, the project is built on Optimism’s OP Stack infrastructure.

Optimism announced that GIWA Chain is planned to be the first application implemented under its “OP Enterprise Self-Managed” model. In this model, Dunamu and Upbit will operate the network’s primary sequencer while also maintaining control over the network’s core decision-making mechanisms. The Optimism Foundation will provide engineering support, system monitoring, and backup sequencer infrastructure.

Dunamu COO Minseok Jung stated that operating GIWA Chain is a strategic step for Upbit. Jung explained that their goal is to offer enterprise and individual users performance and regulatory standards compatible with their existing platforms. He noted that the self-managed model allows for development on a proven infrastructure while maintaining operational control.

*This is not investment advice.