South Korea's largest crypto exchange Upbit announced plans to launch GIWA Chain, its own Ethereum Layer 2 built on the OP Stack. Upbit will leverage Optimism’s self-managed tier of the OP Enterprise service. Upbit will run its sequencer and will retain full control, while the Optimism Foundation provides backup infrastructure. Upbit aims to gain control over transaction ordering, fee capture, compliance, and uptime guarantees for its 13 million users. The GIWA Chain testnet is now live, with a mainnet launch to follow.

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