Binance Returns to South Korea’s Crypto Market Through a Stake in the GOPAX Exchange
- Terms of the agreement for a ‘majority’ stake aren’t disclosed
- Binance plans to add capital to replenish customers’ deposits
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Binance has acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX, returning the biggest digital-asset trading platform operator to a market that it exited two years ago.
The firm has taken a “meaningful” equity position in GOPAX, which halted withdrawals from certain products in November, according to Yibo Ling, chief business officer at Binance.