A New Era: October 16, 2025
On October 16, 2025, the acquisition of Gopax by Binance was officially completed. The Korean virtual asset market has now entered a new phase with the full-scale participation of the world's number one exchange.
Binance is the world's largest crypto exchange with a daily volume of 100 trillion KRW and 290 million users. Gopax is a Korean exchange holding a formal VASP license, making it a strategic gateway for Binance's entry.
Current Situation Summary
FIU Approval & Stake Acquisition
On the night of October 15, 2025, the Financial Intelligence Unit (FIU) finally accepted Gopax's report on executive changes, officially approving Binance's majority shareholder status.
Binance secures majority rights, appointing former Binance executive Steve Kim as internal director.
The acquisition concludes after a prolonged period of regulatory delays and negotiations.
42.3B KRW of 147.9B KRW GOFi debt pre-paid; full repayment procedures starting.
VASP license renewal pending; full operational normalization remains conditional.
What Binance Wants in Korea
1. Securing APAC's Largest Market
Korea represents a massive opportunity as of 2025:
6 Trillion KRW
Daily Average Volume
9.7 Million
Investors
Notably, Korean users account for nearly 13% of Binance's total global volume, underscoring the market's critical importance.
2. Hub for KRW Stablecoin & Web3 Ecosystem
Binance views Korea as an Asian hub for KRW-based stablecoins (KRWb), DeFi, NFT, and gaming. Gopax serves as the bridgehead for expanding domestic partnerships and corporate investments.
Market Forecast: Post-Entry Changes
| Item | Current Market | With Binance |
|---|---|---|
| Fees | Upbit 0.05%, Bithumb 0.04% | Gopax 0.01% + BNB Discounts |
| Listings | Approx 200 coins | 400+ coins, immediate global trends |
| Order Book | Restricted | Separate liquidity (Regulatory constraints) |
| Brand | Gopax maintained | Phased transition to Binance Korea |
Key Analysis Variables
Legal vs Dominance
Product competitiveness via BNB benefits and global listings is expected to be strong, despite liquidity isolation due to regulations.
GOFi Resolution
The 42.3B KRW pre-payment is a signal. Repaying the remaining 105.6B KRW is vital for restoring user trust.
Brand Transition
Short-term Gopax brand maintenance followed by a long-term transition to Binance Korea for global synergy.
HighCrypto Insight
Market Equilibrium
"This acquisition is not just an exchange M&A; it's an experiment finding the equilibrium between Global Capital & Regulation, Liquidity & Trust, and Speed & Safety."
HighCrypto.io monitors these structural shifts, regulatory risks, and investor sentiments in real-time. We leverage data-driven strategies to design successful market entries for crypto projects looking to navigate this evolving landscape.
