Oh Kyung-seok, Dunamu CEO: "Giwa Chain to Support Korean Won Stablecoin"

Dunamu, which operates the domestic virtual asset (cryptocurrency) exchange Upbit, unveiled its own blockchain 'Giwa' and formalized its intention to enter the financial infrastructure market. Giwa Chain is an OP Stack-based layer-2 blockchain, and Dunamu said it would consider support for a Korean won stablecoin through it.

At the 'Upbit D Conference 2025 (UDC 2025)' held on the 9th at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul, Dunamu CEO Oh Kyung-seok announced a next-generation infrastructure roadmap including Giwa Chain, Giwa Wallet, the global travel rule solution 'VerifyVASP', and the institutional custody service 'Upbit Custody'. Specific technical specifications and operational strategies are scheduled to be disclosed in a separate session at 1 p.m. that day.

Oh said, "Korea can take an offensive stance in the global financial infrastructure competition beyond Asia," and "Upbit will lead the global stage leveraging its global scale and technical capabilities." He added, "As cases like the U.S. approval of Bitcoin ETFs and stablecoin legislation show, digital assets are not a bubble but the result of evolution," and emphasized, "The global digital asset market capitalization has already surpassed the combined total of the KOSPI and KOSDAQ."

He particularly identified the spread of stablecoins as a key driver of a financial paradigm shift. Oh said, "In emerging countries such as Mexico and Argentina, the use of dollar-linked stablecoins as a means of remittance and payment is rapidly increasing," and predicted, "This is a movement of trust based on real use and will accelerate the Web3 transition across payments, asset management, and capital markets."