Binance Enters the Korean Crypto Market—Challenges Upbit’s Market Dominance

As Binance, which has strong capital, enters the domestic cryptocurrency market through the acquisition of Gopax, it is expected to change the landscape of the virtual asset market currently dominated by Upbit. Binance’s entry into the market may lead to the easing of the listing standards of DAXA, a consultative body of 5 major exchanges, gathering attention to whether derivative products will be traded on Gopax. Partner attorney Ohoon Kwon predicted, “Under the current domestic law, it would be difficult to bring derivative products traded on Binance to the Korean market through Gopax.”

URL: Binance Enters the Korean Crypto Market—Challenges Upbit’s Market Dominance