Binance & Kolon Partner to Launch New Virtual Asset Exchange
South Korea’s largest conglomerate, Kolon, has agreed with leading cryptocurrency exchange Binance to launch a new virtual asset exchange. The news comes after the recent purchase of the South Korean crypto exchange GOPAX by Binance and subsequent review by the South Korean authorities.
Lee Woong-yeol, the Honorary Chairman of Kolon, is spearheading the project and working towards launching the first virtual asset exchange in South Korea. The partnership between Kolon and Binance is a strategic and mutually beneficial venture for both companies.
Binance Acquires Majority Stake in Troubled Gopax
Binance, the world’s largest cryptocurrency exchange, has acquired a majority stake in the troubled South Korean-based cryptocurrency exchange Gopax. The acquisition is part of Binance’s ongoing expansion into the South Korean crypto market, hampered by strict regulation. In addition, the acquisition will help Binance strengthen its presence in the rapidly growing digital asset industry.
Kolon Honorary Chairman Lee Woong-yeol Joins Binance to Launch New Exchange
Kolon Honorary Chairman Lee Woong-yeol has partnered with Binance to launch a new virtual asset exchange in South Korea. According to the announcement, the new exchange will be powered by the Gopax platform and offer advanced features such as improved liquidity, enhanced security, and faster transaction speeds. Lee Woong-yeol will serve as the honorary chairman of the new exchange.
South Korean Authorities Reviewing Binance’s Acquisition of Gopax
In light of the new venture, South Korean authorities have launched an investigation into the acquisition of Gopax by Binance. The investigation ensures the acquisition complies with the country’s regulations and laws. The investigation results are still pending.
The partnership between Kolon Honorary Chairman Lee Woong-yeol and Binance will likely bring further growth and development to the South Korean crypto market. Binance’s acquisition of Gopax is also being reviewed by South Korean authorities, though the investigation results are still pending. If regulators approve the acquisition, it could open up a new chapter for the South Korean digital asset industry.
