Korbit discloses extension of NXC crypto asset lending agreement…worth about 24 billion won

South Korean crypto asset (cryptocurrency) exchange Korbit has extended its crypto asset lending agreement signed with NXC.

According to the Financial Supervisory Service’s electronic disclosure system (DART) on the 10th, Korbit signed an internal transaction agreement with NXC on the 4th for crypto asset lending. The transaction amount is about 23,974,000,000 won.

This disclosure is effectively a renewal following the expiration of the existing lending agreement. The transaction was carried out as the crypto asset lending agreement between the two parties, first signed in March 2024, reached maturity.

The contract term runs for about two years, from March 4, 2026 to March 3, 2028. The deal was conducted via a negotiated contract without a separate competitive bidding process.

The disclosed transaction amount is the figure converted into won by applying CoinMarketCap’s crypto asset prices and the Seoul Money Brokerage base exchange rate (1,464.5 won per US dollar) as of the contract signing date. The actual transaction size may change depending on future movements in crypto asset prices and the exchange rate.

A Korbit official told Bloomingbit, “This lending agreement is intended to improve the operational efficiency of the crypto assets held by NXC.”