Satoshi Holdings (formerly DeepMind) said on the 30th that it has begun test operations of a next-generation decentralized coin exchange (DEX) based on the GIWA CHAIN developed by Upbit.
The new exchange aims to implement order execution as fast as a centralized exchange by leveraging Giwa Chain's high-speed consensus algorithm. It also plans to lower the barriers to cross-chain asset exchange through native integration with major blockchains such as Ethereum, Binance Smart Chain, and Solana, and to expand the ecosystem by integrating with GIWA Wallet in the future.
Satoshi Holdings plans to jointly operate the exchange with DGP, a Kosdaq-listed company it is currently acquiring, and to support thousands of coins that are not transacted on Upbit through GIWA Wallet. The exchange is currently offering a test service through its official website.
The move is aligned with Naver's acquisition of Dunamu, the operator of Upbit, and Upbit's plan, unveiled at the developer conference (UDC) in Sep., to introduce know-your-customer (KYC) for GIWA Wallet, the company noted. In addition, if GIWA Wallet is linked in the future, direct connections will be possible between more than 10 million Upbit subscribers and the exchange.
A Satoshi Holdings official said, "This DEX will establish itself as a new hub in the domestic DeFi market through strategic linkage based on Giwa Chain and GIWA Wallet, and will serve as a bridgehead for entry into the global market," adding, "We will strengthen collaboration with DGP and sequentially introduce services linking RWA (real-world asset) and STO (security token offering)."