Binance is preparing to reduce its 72.6% stake in the Gopax exchange to as low as 10%, according to local sources.
Binance cryptocurrency exchange is reportedly in the final stages of negotiations with the South Korean cloud service provider Megazone to sell a majority stake in the local exchange Gopax.
Binance is preparing to reduce its 72.6% stake in the Gopax exchange to as low as 10%, South Korea’s news agency The Chosun Ilbo reported on July 11.
Citing an anonymous industry insider related to Gopax, the report suggests that Binance is pushing the sale of Gopax shares to improve its governance structure as requested by local financial authorities.
