Oh Kyung-seok, CEO of Dunamu, says, "K-Finance will advance into the global market with Kiwachain."

Dunamu has announced its ambition to expand K-finance beyond Asia and globally, leveraging its proprietary blockchain, "GIWA." The strategy is to build a future financial infrastructure centered around GIWA Chain and seize the initiative in the future financial market, which is shifting toward virtual assets.

Oh Kyung-seok, CEO of Dunamu, said in a keynote speech at the "Upbit D Conference 2025," held at a hotel in Gangnam-gu, Seoul on the 9th, "We will leap forward as a financial infrastructure company that encompasses blockchain, wallets, and custody services beyond just an exchange." This marked Oh's first official appearance since taking office.



CEO Oh explained, "Many people claim that blockchain is the future of finance," and added, "Finance is evolving into a future where stablecoins are becoming a gateway connecting blockchain and real-world finance." He also announced that Kiwachain, unveiled for the first time that day, would support the issuance and distribution of won-denominated stablecoins.

Kiwachain is a Layer 2 (L2) blockchain developed to address Ethereum's shortcomings. It accelerates transactions and reduces fees by centralizing transactions. Furthermore, it was designed with customer verification (KYC) and anti-money laundering (AML) requirements in mind, making it easily adopted by financial institutions. CEO Oh stated, "Kiwachain is a financially friendly blockchain," adding, "Upbit's staking (virtual asset deposit) experience will enable us to issue and distribute stablecoins reliably."

CEO Oh also unveiled "Giwa Wallet," a Web3 wallet for storing virtual assets alongside Giwachain. Giwa Wallet allows for easy login using just an email address and allows for the simultaneous management of assets based on Ethereum, Base, Optimism, Arbitrum, Polygon, and Avalanche.

Dunamu's simultaneous unveiling of its own blockchain and wallet on this day is interpreted as a move to quickly secure infrastructure amid the recent intensifying discussion on KRW stablecoins. CEO Oh stated, "Upbit is not only the No. 1 exchange in Korea with a spot trading volume of 1,740 trillion won last year, but also ranks among the top four exchanges globally in terms of trading volume." He emphasized, "With 12 million cumulative subscribers and infrastructure capable of executing 20,000 transactions per second, supporting KRW stablecoins will allow Korean finance to expand beyond Asia and into the global market."

He also called for proactive government policy support. CEO Oh stated, "The top US exchange is expanding its global reach by handling not only spot but also derivatives, but Korea still faces limitations." He added, "If institutional support is in place, Dunamu can confidently compete on the global stage as a leading national financial infrastructure company."

Reporter Do Ye-ri