Upbit to launch own wallet and chain, evolving into on-chain platform

Oh Kyung-seok, CEO of Dunamu, has outlined a vision for Upbit to evolve from a digital asset exchange into an on-chain financial platform. Speaking at a special lecture on digital assets at Korea University's Seoul campus on May 13, he announced plans to launch a proprietary wallet and blockchain infrastructure this year, according to the Electronic Times Internet. Oh added that the goal is to support Upbit's 13 million users in their transition to on-chain activities. He also mentioned an expansion into the APAC market, stating that the company is building services through its Kiwa Wallet and Kiwa Chain to help Web2 users conveniently enter the Web3 market. He emphasized that this move is not just a service expansion but an effort to open "the most powerful on-chain gateway in APAC."