
Binance zal de Zuid-Koreaanse markt opnieuw betreden met de overname van Gopax
- Binance heeft onlangs een due diligence onderzoek gedaan naar de overname van Gopax, een Zuid-Koreaanse crypto-uitwisseling.
- Gopax maakt samen met Upbit, Bithumb, Coinone en Korbit deel uit van de Digital Asset eXchange Alliance (DAXA).
- The exchange is “in the process of final discussions on the value of the stake,” according to a source.
- “Binance will buy a stake (41.2% stake) from CEO Lee Jun-haeng, the largest shareholder of Gopax,” a report said.
As centralized crypto exchanges continue to witness drying trading volumes, many have decided to lay back on the expansion part and build on what they have. However, the world’s biggest crypto exchange, Binance, has taken advantage of the market conditions worsened by the collapse of multiple crypto firms, and expanded into other global markets. Interestingly, to expand into South Korea, the exchange has reportedly acquired a local exchange.
Volgens een rapport from a local media outlet, Binance is reportedly close to completing the acquisition of Gopax, a South Korean crypto exchange that is part of the Digital Asset eXchange Alliance (DAXA) along with Upbit, Bithumb, Coinone, and Korbit. Interestingly, this means that the world’s biggest exchange will now also be linked to the DAXA following the acquisition of Gopax.
DAXA is het eerste gezamenlijke overlegorgaan van Zuid-Korea dat werd opgericht nadat veel crypto-investeerders klaagden over het gebrek aan toezicht en regelgevende betrokkenheid bij de crypto-industrie in Zuid-Korea. Daarnaast is het ook cruciaal om op te merken dat Binance de due diligence heeft voltooid bij de overname van Gopax en dat de officiële aankondiging binnenkort kan volgen.
Citing a source familiar with the matter, the report from a local media outlet confirmed that Binance had planned to break the news in Christmas 2022 but did not do so because the exchange is “in the process of final discussions on the value of the stake.” The report also stated that “Binance will buy a stake (41.2% stake) from CEO Lee Jun-haeng, the largest shareholder of Gopax, but will maintain this representative system for the time being for stable management.”
Binance has been increasingly trying to enter global markets but hasn’t been able to do so because of extreme regulatory pressure and the presence of strict anti-money laundering laws in some regions, including South Korea. However, the leading exchange under the leadership of Changpeng Zhao, also known as CZ in the crypto space, remains undeterred and continues on its path of absolute dominance.
Onlangs bevestigde Binance zijn terugkeer op de Japanse markt na vier jaar with the acquisition of Sakura Exchange BitCoin, a Japanese crypto exchange service provider, following which it can now enter Japan “as a Japan Financial Services Agency (JFSA) regulated entity.” As per an announcement, the exchange “aims to support a responsible global environment for cryptocurrencies” by offering Japanese-regulated services through SEBC.
On the other hand, the leading exchange also entered the Indonesian market with the acquisition of local crypto exchange Tokocrypto. Binance’s portfolio company CEO, Yudhono Rawis, will serve as interim CEO for the Indonesian exchange.
Tokocrypto’s co-founder and CEO, Pang Xue Kai, will soon resign from his position. Surprisingly, around 58% of the employees of Tokocrypto were fired due to market conditions.