Binance Launches $90M GOFi Fund Aiming at Korean Payments — What’s Next?

Binance announced a crypto fund of $90.52 million allocated for compensating GOFi victims while furthering its growth through GOPAX, the South Korean exchange now under its management, as the company gears up to facilitate institutional adoption and develop payment infrastructure by 2026.

This development follows years of regulatory holdups after Binance obtained a 67% share in GOPAX in February 2023, with authorities finally sanctioning the ownership transition in October 2025 as part of broader efforts to establish Korea as a global cryptocurrency center.

The push for expansion occurs as Korean regulators gradually ease previous restrictions on crypto integration within traditional financial systems, having recently lifted a nine-year prohibition on corporate cryptocurrency investments and drafting the Digital Asset Basic Act aimed for passage this year.

Binance’s goal is to create infrastructure for institutional treasury management and cross-border stablecoin transactions, with payment capabilities for international visitors being a significant focus despite local limitations on crypto-based transactions.

@Binance has finally received regulatory approval to finalize its acquisition of South Korean exchange Gopax after a two-year delay. #Binance #Crypto https://t.co/aMUjiyesxu

— Cryptonews.com (@cryptonews) October 16, 2025

Institutional Growth and Payment Infrastructure Shape 2026 Vision

SB Seker, head of Asia-Pacific at Binance, highlighted the institutional momentum during a video interview with The Korea Times on Friday.

“Twenty-three percent of last year’s global growth stemmed from institutional adoption,” Seker remarked.

“We anticipate a similar trend in Korea if (regulatory) developments progress. The adoption rate will likely be equivalent, if not greater.”

In addition to core spot trading and digital asset offerings, Binance expects Korean companies to start allocating cryptocurrencies to their balance sheets once regulations are clarified.

The exchange is pursuing collaborations with licensed local payment providers to facilitate inbound transactions from overseas visitors, an initiative Seker hopes will serve as a model for regulators as domestic payment restrictions persist.

This institutional emphasis aligns with Binance’s launch of Crypto-as-a-Service in September 2025, a white-label infrastructure solution that offers banks and brokerages back-end trading, custody, settlement, and compliance tools.

The platform follows the rollout of Institutional Loans in July, providing verified corporate clients with up to 4x leverage through cross-collateralized credit lines across various accounts.

Binance Launches Crypto-as-a-Service – Internal Trading, Custody, Compliance
Binance, the largest cryptocurrency exchange globally by trading volume, has unveiled Crypto-as-a-Service (CaaS), a white-label infrastructure solution intended to assist regulated…

— Cryptonews.com (@cryptonews) October 3, 2025

GOFi Compensation Nears Final Administrative Challenges

GOPAX revealed the compensation wallet on Thursday after receiving regulatory approval for Binance’s executive change filing last October.

The crypto assets amount to roughly 130 billion won, indicating progress in fulfilling obligations related to the GOFi interest-bearing product that locked approximately 1,000 bitcoins after FTX’s collapse in 2022.

“Our actions have aimed to showcase transparency and instill confidence in the market regarding our intentions,” Seker stated.

However, Korean law mandates repayment through GOPAX’s balance sheet, requiring Binance to first inject capital into the company before distributions can commence.

Costs associated with converting crypto to fiat and back might lead to variations in final distributions due to market liquidity and asset values, although Binance is striving to minimize these expenses for GOFi creditors.

“It has taken us three years to achieve a change of control. We still have several hurdles to overcome,” Seker noted, adding that complete shareholder approval from minority shareholders is still pending before the firm can “accelerate operations fully.”

Regulatory Framework Develops Amid Market Consolidation

Korea’s cryptocurrency regulatory landscape is swiftly changing following Binance’s re-entry.

The Democratic Party’s Digital Asset Task Force recently confirmed that the upcoming Digital Asset Basic Act will require stablecoin issuers to possess a minimum capital of 5 billion won ($3.5 million), aligning these requirements with those imposed on electronic money firms.

Financial Services Commission Chairman Lee Eog-weon stated earlier this week that the regulator is also evaluating ownership caps of 15-20% for major shareholders of crypto exchanges, part of a transition from a notification system to a permanent authorization framework.

This proposal has faced opposition from exchanges such as Upbit and Coinone, where controlling shareholders hold stakes exceeding 28% and 53%, respectively.

Meanwhile, Korea has lifted its nine-year corporate crypto ban this month, allowing listed companies to invest up to 5% of their equity capital in the top-20 cryptocurrencies.

South Korea has introduced guidelines permitting listed companies and professional investors to invest up to 5% of their equity capital in cryptocurrencies. #SouthKorea #CorporateCryptoInvestment #CryptoInvestment https://t.co/d55u3TDsBF

— Cryptonews.com (@cryptonews) January 12, 2026

Simultaneously, the National Assembly has passed legislation establishing a legal framework for the issuance and trading of tokenized securities, set to take effect in January 2027.

For the time being, exchanges continue to expand their market presence, with Coinbase also contemplating an investment in Coinone, while Naver Financial has agreed to acquire Dunamu, the operator of Upbit.

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