Bybit, a prominent international cryptocurrency exchange, is rumored to be considering the acquisition of Korbit, which is South Korea’s fourth-largest cryptocurrency exchange. While no official announcement has been made regarding the potential acquisition, sources suggest that Bybit has engaged in discussions with Korbit’s management to kickstart the acquisition process.
It is worth noting that NXC, the parent company of Nexon, currently holds a majority stake of about 60.5% in Korbit. Additionally, SK Planet owns 31.5% of the exchange, which is where Bybit is reportedly looking to initiate the acquisition process. Sources familiar with the matter indicate that Bybit plans to acquire SK’s stake first before potentially moving on to full ownership of Korbit.
The speculation surrounding Bybit’s interest in acquiring Korbit comes at a time when other international exchanges, such as Binance, have been expanding their presence in the Asian market. Binance recently received approval from South Korea’s Financial Intelligence Unit to replace GOPAX executives, enabling foreign exchanges to own local platforms in the region.
However, Korbit has denied the rumors of a potential acquisition by Bybit, labeling them as baseless. In September 2025, South Korea’s Financial Services Commission (FSC) released new guidelines for lending services on centralized cryptocurrency exchanges (CEXs) in response to the increasing demand for crypto in the country. The new regulations cap crypto lending interest rates at 20% and limit lending to tokens within the top 20 by market capitalization listed on at least three won-based exchanges.
Chairman of the FSC, Kim Byoung-hwan, revealed plans at the beginning of 2025 to accelerate the institutionalization of cryptocurrency in South Korea, emphasizing investor protection and alignment with global trends. This move underscores South Korea’s efforts to establish itself as one of the top crypto hubs in Asia.
For more information, you can refer to the original story titled “Bybit Eyes South Korean Expansion with Korbit Acquisition” by Godfrey Benjamin on Coinspeaker.com.
