Funble, South Korea's Blockchain Real Estate Investment Platform, to Cease Operations by May 14

Gate News message, April 28 — Funble, a blockchain-based real estate fractional investment platform in South Korea, announced it will cease platform trading operations on April 30 and complete full service shutdown by May 14, the company said on April 28.

Funble was designated as an innovative financial service by South Korea’s Financial Services Commission and provided real estate trust revenue securities issuance and trading services. However, after its innovative financial service designation period expires, the company failed to meet the requirements for new regulatory frameworks and was unable to obtain authorization as a revenue securities investment intermediary, forcing the platform shutdown.

Customer-held revenue securities are registered in SK Securities’ customer accounts under the Electronic Securities Act, with ownership legally protected. Deposits and securities will remain in custody at SK Securities, and customers can withdraw or check balances directly through SK Securities’ business channels without requiring separate transfer procedures.

Upon platform closure, trust real estate will be disposed of through public competitive bidding (public auction) to ensure transparency. Proceeds will be distributed to investors according to priority order. The company plans to regularly disclose progress schedules on its homepage. The following timeline has been announced: April 30, 2026 — trading platform ceases operations and final beneficiary list confirmed; May 14, 2026 — Funble platform app service terminates; May-July 2026 — public auction process and successful bidder determination; July-September 2026 — receipt of sale proceeds and disposal profit confirmation; September-October 2026 — liquidation payment and cancellation of revenue securities.