Binance Acquires Majority Of Gopax Korea Stocks with $1B Industry Recovery Fund
Key Points:Binance acquired a majority stake at South Korean crypto exchange GOPAX.
Binance has committed $1 billion to the industry recovery fund.
Gopax customers will be able to withdraw funds and pay interest to GoFi after the acquisition. Gopax is a profitable Gopax program.
The largest cryptocurrency exchange on the market had previously planned to purchase back 41.2% Gopax shares.
Binance acquired a majority stake of Gopax, a South Korean cryptocurrency exchange that was struggling. In the past, Binance had closed its South Korean operations in 2021 due to low volume and poor usage. Binance’s chief business officer Yibo Ling said that the company has a substantial equity stake in Gopax. This is a result of the $1 billion venture called the Industry Recovery Plan. Binance intends to inject capital into the exchange in order to allow customers to withdraw funds from Gopax and pay interest on GoFi. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuFoxyCoincu NewsTags: # Cryptocurrencies#MarketsaccquireBinanceBlockchaincryptoGopax