Crypto exchange Binance has acquired a majority stake in South Korea’s crypto exchange GOPAX. The funding for the acquisition came from Binance-led “Industry Recovery Initiative.”

It marks the re-entry of Binance into South Korea’s crypto market after two years by acquiring GOPAX, which is among the top five crypto exchanges in South Korea.

Binance Officially Re-Enters South Korea With GOPAX Acquisition

Crypto exchange Binance has acquired South Korea’s crypto exchange GOPAX, reported Bloomberg on February 3. Last month, Binance announced that it has completed due diligence on the acquisition of GOPAX.

The discussions reached the final stage as Binance was looking to buy a majority stake from CEO Lee Jun-haeng, who has a 41.2% stake in Gopax. Barry’s …