A recent financial report from Streami, the parent company of Gopax, revealed that the South Korean cryptocurrency exchange experienced significant revenue growth and a notable reduction in net losses in 2023.
Gopax’s Revenue Surge And Net Loss Reduction
Despite challenges related to liquidity issues and regulatory scrutiny, Gopax narrowed its net loss to 51.3 billion Korean won ($37 million) last year, compared to 90.6 billion won in the previous year.
The financial report further showcased Gopax’s notable performance in 2023, with a roughly 97% year-over-year growth in revenue, reaching 3.1 billion won. Additionally, the exchange reduced its net operating loss by 78% to approximately 17 billion won.
As reported, these positive results were largely attributed to the resurgence of bullish sentiment in the South Korean crypto market, which emerged as one of the “most active” crypto markets globally in 2023.
Despite its revenue growth, Gopax encountered notable hurdl
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