Binance acquires Gopax
Binance CEO Changpeng “CZ” Zhao wanted to return to South Korea after leaving in January 2021. South Korea has one of the largest crypto economies in the world, an excellent talent pool, and a startup community that is still an attractive market for Binance. South Korean expansion will be most important for Binance to lead the next wave of blockchain and Web3 developments.
Binance officially comes to South Korea through acquisition of Gopax, reported Wu Blockchain on January 2nd. Binance recently launched the Due Diligence Check completed for the acquisition of Gopax. Talks have reached final stages as Binance seeks to acquire a controlling stake from CEO Lee Jun-haeng, who owns a 41.2% stake in Gopax.
An official familiar with the matter explains:
We were originally intended to announce the acquisition around Christmas last year, but we are in final discussions on the value of the stake,