Binance is re-entering the South Korean market after five years of absence, following regulatory approval for its acquisition of Gopax, one of only a handful of local exchanges authorized to offer crypto-to-fiat services. This return could significantly shake up South Korea’s established cryptocurrency landscape dominated by Upbit and Bithumb. Binance’s entry into the country will require it to partner with domestic banks to facilitate real-name verified accounts, which are part of South Korea’s compliance measures against money laundering and customer verification. Binance also faces scrutiny over a recent oracle malfunction that triggered $19 billion in market liquidations. However, it has committed to compensate affected users. Meanwhile, Morgan Stanley in Japan launched a new digital asset platform, focusing on security tokens backed by various assets like bonds or real estate. This move aligns with their broader strategy of integrating blockchain technology into traditional finance systems and capitalizing on growing institutional interest in Web3. The Japanese bank’s commitment to these initiatives follows a wider trend where major financial institutions are actively exploring opportunities within the burgeoning Web3 ecosystem.