The investment, the financial details of which are undisclosed, marks the company’s return to the South Korean market after its exit in 2021.
Announcing the deal, Binance says that in November, Gopax “halted the withdrawal of principal and interest payments in its decentralised finance (DeFi) service GoFi as a consequence of the upstream challenges experienced by Genesis Global Capital, LLC”.
“Since then, Gopax has been working closely with local regulators and industry partners in an effort to raise funds to make affected users whole,” it adds.
