Megazone's acquisition of South Korean crypto exchage Gopax is blocked as rising BTC prices increase its debt size

Odaily reported that the operator of the South Korean crypto exchange Gopax, Streami, has encountered obstacles in its attempt to sell to the infrastructure software company Megazone. A Megazone official acknowledged that while a final decision has not been made, the company's plan to acquire a majority stake in Streami from has faced challenges. Megazone is the largest shareholder of Korea's largest cloud management service provider (MSP) Megazone Cloud and has been in discussions with , the largest shareholder of Gopax, to acquire Gopax. This is in response to the Financial Services Commission's requirement to reduce 's stake in Gopax to below 10%. According to Gopax's audit report, as of the end of last year, held a 67.45% stake in Gopax. negotiated with Megazone to sell 57.46% of its shares (excluding the 10% it holds) to support Gopax's application for a Virtual Asset Service Provider (VASP) license renewal. The complexity of this sale lies in Gopax's crypto custody service GOFi, which holds a large amount of that will be returned to users. However, as the debt size of GOFi has not been confirmed, and the price of held as debt has continued to rise, the debt size has been increasing. During the discussions, the trading price of was around 83 million Korean won, and as of 10:15 am on the 23rd, the current trading price on is 143 million Korean won.