Binance wants to enter South Korea again by purchasing a local stock exchange: report

Binance wants to enter South Korea again by purchasing a local stock exchange: report

The world's largest crypto trading platform is reportedly about the conclusion of Gopax-one of the most used Korean stock exchanges.

When the deal is complete, this means the entry of Binance into the South Korean market.

• , citing a report by a local media company, the popular blockchain journalist Colin Wu announced that Binance "recently completed the Due Diligence of taking over Gopax".

According to the Decenter, Binance recently completed the Due Diligence of taking over gopax. Gopax is one of the five large South Korean stock exchanges (Upbit, Bitsum, Coinone, Corbit, Gopax). Binance had previously announced the takeover of stock exchanges in Japan and Indonesia.

-Wu-Blockchain (@wuBlockchain) 2. January 2023

• According to reporting, planned Binance to announce the purchase around Christmas, but delayed the value of the business at the last minute due to discussions.
• The stock exchange conducted by CZ will buy a share of 41.2 % of the current CEO of Gopax-Lee Jun-Haeng, who is also the largest shareholder.
• Gopax is one of the five largest stock exchanges for digital assets in Korea.
• The report continues that Binance actively explored the Korean market, and this turned out to be the safest way.
• remember that Changpeng Zhao has already indicated a possible return to the Korean market after a break that has now taken over two years.
• Binance had to close his subsidiary in South Korea with the local supervisory authorities after a disagreement. However, the company has hired countless KYC, AML and Compliance employees and directors in recent years to combat such problems.
• It is worth noting that Binance still has to confirm the news about the takeover.

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