Binance Re-enters Korean Market with GOPAX Stake Acquisition

Acquisition of shares in GOPAX, one of Korea’s top five exchanges Binance, the largest crypto asset (virtual currency) exchange, announced on the 3rd that it will re-enter the Korean market. It looks like it has acquired a lot of shares in the Korean exchange GOPAX. Binance has yet to reveal the terms of the deal or the size of its investment in GOPAX, but Korean media outlet Decenter reported in January that Binance plans to buy about 41% of GOPAX shares. Binance previously operated in South Korea, but closed its affiliate in South Korea in 2020 due to strict restrictions