Binance Nears Deal to Sell Majority Stake in South Korean Exchange Gopax to Megazone
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Binance, a leading cryptocurrency exchange, is reportedly in the final stages of negotiating the sale of a majority stake in the South Korean exchange Gopax to the local cloud service provider Megazone. According to a report by South Korea’s news agency The Chosun Ilbo on July 11, Binance is preparing to reduce its 72.6% stake in Gopax to as low as 10%. An anonymous industry insider related to Gopax indicated that Binance is pushing the sale to enhance its governance structure as requested by local financial authorities. Initially, Binance announced the acquisition of a 72.26% stake in Gopax in February
Source: CryptoIntelligence
