1. QiAi QuestsHome
  2. Daily Digest

Binance Completes Final Stage for Gopax Acquisition, Enters Korean Market

• Daily Digest • 74 views

On March 7, it was reported that Binance had completed the final stage before the acquisition of Gopax, which was to declare to the Korean financial regulator….

Binance Completes Final Stage for Gopax Acquisition, Enters Korean Market

On March 7, it was reported that Binance had completed the final stage before the acquisition of Gopax, which was to declare to the Korean financial regulator. Gopax submits the change report of the virtual asset operator to the Financial Intelligence Unit (FIU) of the Korea Financial Services Commission. The report pointed out that if FIU accepted the change report, it would be the first time that the global currency market trading platform entered the Korean market through the Korean won trading platform. According to the specific financial information law, when the company’s representative or director changes the registration, a change report must be submitted.

Binance has reported the acquisition of Gopax to the Korean financial regulator

Interpretation of the news:


Binance, a global currency market trading platform, has completed the final stage of acquiring Gopax, a Korean won trading platform. On March 7, it was reported that Binance had submitted a change report of the virtual asset operator to the Financial Intelligence Unit (FIU) of the Korea Financial Services Commission as required by the specific financial information law. If FIU accepts the change report, it would mark the first time that Binance enters the Korean market through the Korean won trading platform.

This move indicates Binance’s continued expansion into new markets and the importance of the Korean market for its growth. Korea is known for its active cryptocurrency market and strict financial regulations, with the government recently introducing a new tax law for cryptocurrency profits. Binance’s acquisition of Gopax will provide it with local expertise and compliance with Korean regulations, which will allow it to offer more services to Korean customers.

The change report submitted by Gopax to FIU is a necessary step for any company to update its registration details when there is a change in the representative or director. This process ensures transparency in the industry and helps prevent illegal activities. If FIU accepts the change report, Gopax will become the virtual asset operator for Binance in Korea.

Binance’s acquisition of Gopax follows its recent announcement of launching a new fiat-to-crypto platform in India. The company is also expanding its services in new markets such as Russia, Turkey, and Nigeria. Binance’s rapid expansion shows its determination to become a leading player in the cryptocurrency market and capitalize on the increasing global interest in digital assets.

In conclusion, Binance’s completion of the final stage for acquiring Gopax and entering the Korean market marks a new milestone in the company’s expansion strategy. With the Korean market known for its active cryptocurrency trading and strict regulatory framework, Binance’s acquisition of Gopax will allow it to offer more services to Korean customers while complying with local regulations. This move demonstrates the company’s commitment to continued growth and global expansion.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/5579.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/07/2023 01:05
Next 03/07/2023 01:12

Related recommendations