Yeliz Akmaca 
Binance has officially completed the acquisition of South Korean cryptocurrency exchange Gopax, following a two-year regulatory delay, according to local media reports. The South Korean Financial Intelligence Unit (FIU) approved the change in Gopax’s key executives this week. Binance initially became Gopax’s largest shareholder in 2023 with a 67% stake.
The approval comes after prolonged concerns over potential anti-money laundering risks. Local authorities had previously postponed the full acquisition due to these issues. Resolution of Binance’s compliance challenges in the U.S., including a $4.3 billion settlement with the Securities and Exchange Commission (SEC) and Department of Justice, appears to have influenced the South Korean decision.
Strategic Importance for Binance
Gopax is one of the five South Korean exchanges authorized for cash-to-crypto transactions, requiring strict know-your-customer (KYC) and anti-money laundering (AML) compliance. Binance’s acquisition allows it to reenter one of Asia’s largest crypto markets.
Binance CEO Changpeng “CZ” Zhao has shown increasing interest in South Korea and other Asian regions. South Korea’s thriving crypto ecosystem, strong talent pool, and active entrepreneurship make it a key strategic market for Binance’s blockchain and Web3 expansion.
The Gopax acquisition also comes after a 2023 withdrawal crisis. Genesis Global Capital (GGC), Gopax’s DeFi partner, froze $47 million in customer funds linked to Gopax’s GoFi product, following GGC’s Chapter 11 filing after the FTX collapse. Binance stepped in to provide liquidity and stabilize Gopax.
Market Implications
Upbit currently dominates the South Korean crypto market with over 72% market share. Binance’s return via Gopax could gradually shift market dynamics, attracting users with renewed confidence in liquidity and compliance.
BNB, Binance’s native token, has seen a one-month price surge of roughly 50%, reaching a peak of $1,370 before trading around $1,186, down 2% in the last 24 hours. Trading volume decreased by 40%, indicating moderate investor caution but overall positive market sentiment.
The acquisition underscores Binance’s commitment to regional growth and regulatory alignment, solidifying its position as a global crypto leader.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.