Binance plans to complete refunds for GoFi users in South Korea by 2026, according to Mr. SB Seker – APAC Regional Director. This move aims to address the ongoing liquidity crisis and pave the way for Binance to return to the South Korean cryptocurrency market through the Gopax exchange, where Binance holds a controlling stake.
GoFi has frozen withdrawals since 2023 after its lending partner Genesis Global Capital went bankrupt. Binance then acquired Gopax to support users but had to wait until the end of 2025 for regulatory approval.
Once approved, Binance will announce a refund wallet, holding the digital assets to be returned in the exact original amounts (BTC, ETH, USDC), without conversion to fiat prices. When completed, Binance will focus on upgrading Gopax and expanding legally compliant products, aiming to compete with leading exchanges like Upbit and Bithumb.
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