Binance to repay Gopax users, plans South Korea expansion

Binance will repay Gopax GoFi users with a $90M crypto fund by 2026, then expand in South Korea with stablecoins, asset tokenization, and institutional services.

Binance is implementing a multi-phase strategy to expand in South Korea, starting with compensating users affected by the Gopax GoFi service freeze. The company has established a $90.52 million fund, including over 775 BTC, nearly 5,800 ETH, and more than 700,000 USDC, to reimburse users with the same crypto assets lost during the 2023 crisis caused by Genesis Global Capital’s bankruptcy. Regulatory approval for Binance’s 67% acquisition of Gopax was secured in October 2025. However, minority shareholder approval is still pending before full restitution can begin. The repayment process is expected to be completed by 2026. Following repayments, Binance plans to integrate Gopax into its global ecosystem, focusing on stablecoin payments, real-world asset tokenization, and institutional services. This marks a shift from crisis management to aggressive market expansion, leveraging new regulatory support for crypto in South Korea.