World’s largest cryptocurrency exchange Binance has added another feather to its hat as it has acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX. This marks Binance’s return to South Korea, a market that it exited two years ago. Industry Recovery Initiative Aided the Purchase The funding of the purchase came from a Binance-led co-investment project called the Industry Recovery Initiative, to which Binance pledged $1 billion. Terms weren’t disclosed. Binance plans to inject capital into the exchange so that customer withdrawals and interest payments can be made for GOPAX’s yield product GoFi. GOPAX’s parent company Streami Inc. is listed as The post Binance Now Has a Majority in Cryptocurrency Exchange GOPAX appeared first on Cryptoknowmics-Crypto News and Media Platform .
