Binance in Talks to Buy Korean Crypto Exchange Gopax, Daily Says

Binance Holdings Ltd. is seeking to enter the South Korean market through an acquisition of local crypto exchange Gopax, Seoul Economic Daily reported, citing unidentified people.

The world’s biggest cryptocurrency exchange recently completed due diligence on Gopax and is likely to buy a 41.2% stake from Gopax’s largest shareholder, co-founder and chief executive officer Lee Junhaeng, the report said. Lee will continue in his position for now to help manage the company.

Binance doesn’t comment on “rumors or speculations” as a matter of policy, a representative said. Meanwhile, a Gopax spokesperson said it was “difficult to confirm what is ...