Gopax said on Jan. 29 it has secured digital assets including USD Coin (USDC) and bitcoin to repay GoFi deposits.

A notice posted by Gopax on the status of custodial holdings for GoFi deposit assets showed it holds 11 types of coin assets, including USDC, bitcoin and ether, for the repayments.

By coin type, it holds about 706,184 USDC, about 775 bitcoins and 5,766 ether.

Gopax explained, "GoFi deposit assets are stored separately under a third-party custody structure and are managed separately from the company’s operating funds."

It added that it cannot disclose the institution holding the assets or wallet addresses due to security concerns.

It continued, "This notice is intended to provide factual information on the status of asset custody and is not related to the repayment schedule or method."

The GoFi incident occurred in November 2022 in the aftermath of the bankruptcy of global digital asset exchange FTX. Gopax had operated GoFi through digital asset lender Genesis Global Capital, but bond repayments were halted after Genesis had funds tied up in FTX.

Funds deposited in GoFi were also tied up, and Gopax has been unable to return the funds to customers.

Binance, the world’s top digital asset exchange, entered the South Korean market last October, 3 years into takeover talks, after receiving approval from South Korean financial authorities to acquire Gopax.

This raised expectations that debts to victims of the GoFi incident, which Binance agreed to take responsibility for during the talks, would also be repaid.