Binance, the world’s largest cryptocurrency exchange by trading volume, has successfully completed its acquisition of South Korean-based digital asset exchange Gopax.

Binance’s Gopax Stake Finalized

On October 16, industry sources reported that South Korean financial authorities had finalized their review of Gopax’s executive changes, which had been pending for an extended period. Binance initially acquired a 67% stake in Gopax back in February 2023, positioning itself as a major shareholder.

However, the approval process for the executive changes submitted to the Financial Intelligence Unit (FIU) had stalled for nearly two and a half years, as regulators were cautious about the potential implications of Binance’s ownership on South Korea’s anti-money laundering (AML)

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