Binance is seeking to sell most of its shares in GoPax operator to Megazone

ChainCatcher news, according to IT Chosun, Binance is in last-minute negotiations with Megazone's parent company, Megazone, to sell its stake in the South Korean cryptocurrency exchange Gopax operator Streami, reducing its stake in Streami from 72.6% to 10%. Sources familiar with the matter indicate that Binance is seeking to sell its stake to improve the governance structure required by financial authorities before renewing the real-name account contract with Jeonbuk Bank in August. This transaction is expected to be completed by the end of this month.

Binance acquired a 72.26% stake in Gopax in February last year. Later, in March of the same year, Binance reported a change in its largest shareholder, but South Korean financial authorities have not decided whether to accept Binance's statement in the past year and three months.

An official from Megazone explained, "We are discussing various forms of cooperation, including the acquisition of shares, provided that government approval is obtained, but there is no specific decision on future processes or timelines."