Share this article
Binance Eyes Launch of Crypto Exchange in South Korea
Binance is "working with local partners" on the launch of a branch in South Korea, CEO Changpeng Zhao has reportedly said.
Updated Dec 10, 2022, 9:21 p.m. Published Jul 16, 2019, 10:30 a.m.
Binance, the world's top exchange by trading volume, is considering launching a branch in South Korea, according to reports.
Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is "working with local partners, but we do not know the details."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin.
A Binance representative reportedly told Block In Press, "We have been in discussions with BXB, but there is no specific decision."
Adding to the likelihood that a launch is on the cards, Binance has been advertising for a compliance officer for South Korea.
In a posthttps://jobs.lever.co/binance/b779e4f5-0ba5-4d78-b88f-13f46baaf52c?fbclid=IwAR2B34SbCORMQ1nUtQnsrpD_F0srPixGjmKdo28zYl7hUoWPcQRGd9cbeGw on its website, the exchange says:
"We are seeking a Compliance Officer to support our expansion into all global frontiers, including KYC, Client Onboarding and AML/CFT. The role is based in Seoul, South Korea."
Among other skills, the candidate must have "Good knowledge on provisions of local laws, directives, regulations and otherwise standards applicable to subject persons and knowledge of upcoming regulation of virtual currency policies is a strong plus."
CoinDesk Korea also raises the possibility that Binance might work with BXB to launch a Korean won-backed stablecoin on its platform. The exchange recently confirmed that it's developed a token tied to the British pound and that more based on other fiat currencies are planned.
Aside from it's global service Binance.com, the exchange recently announced that it will launch a regulated platform for users in the U.S. The firm also has local exchanges in Singapore, Jersey and Uganda.
Binance image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BTC, Nasdaq Futures Drop as Oracle Earnings Revive AI Bubble Fears
Oracle shares tanked after the firm revealed an earnings miss.
What to know:
- Bitcoin slipped below $90,000 as traders treated the Fed’s rate cut as a sell the news event, unwinding optimism that had been priced in ahead of the decision.
- Oracle shares fall 12% on earnings and capex guidance, yet credit market signals suggest a repricing of risk rather than distress.
Top Stories
