Binance, the world's largest virtual asset exchange, has taken over Gopax, Korea's No. 5 exchange.
According to financial authorities on the 16th, the Korea Financial Intelligence Unit (FIU) under the Financial Services Commission approved the change of Gopax executives to Binance the day before, two years after the filing. Binance pursued entry into Korea by acquiring Gopax equity in 2023, but was stuck as legal procedures such as approval of the executive change filing by the authorities were delayed.
With the financial authorities approving the change filing this time, Binance's entry into Korea, which had been delayed for more than two years, appears set to gather pace. Payouts for Gopai victim compensation that Binance promised are also expected to speed up.