Catenaa, Thursday, October 23, 2025- Binance has finalized its long-delayed acquisition of South Korean cryptocurrency exchange Gopax, marking the global exchange’s official return to the South Korean market after four years.
Local media reported that South Korea’s Financial Intelligence Unit (FIU) approved changes to Gopax’s executive leadership this week, clearing the final regulatory hurdle for the deal. Binance first purchased a 67% stake in Gopax in February 2023, but full approval was delayed amid concerns over anti-money laundering compliance.
The approval reportedly follows the resolution of major legal issues in the United States, where Binance paid $4.3 billion in penalties after facing money laundering and securities violations. Regulators in Seoul had cited those investigations as a key factor in postponing their decision.
The move paves the way for Binance’s re-entry into South Korea’s tightly regulated market, which it exited in 2021. Gopax is one of only five exchanges in the country authorized to conduct cash-to-crypto transactions under strict know-your-customer and anti-money laundering standards.
Gopax faced a liquidity crisis in 2023 after its DeFi partner Genesis Global Capital froze user withdrawals linked to GoFi products, leaving $47 million trapped. Binance stepped in to acquire Gopax with a commitment to reimburse affected users and restore operations.
The acquisition signals renewed confidence in Binance’s global compliance posture and its strategic push to rebuild presence across key Asian markets.
