Media: Bybit plans to buy Korbit

South Korean media have reported that crypto exchange Bybit intends to acquire the Korbit platform. This move is aimed at expanding Bybit's presence in the local South Korean market, highlighting growing interest from foreign companies in the region.

Meeting between Bybit and Korbit

According to press reports, a meeting between representatives of Bybit and Korbit took place on November 10, 2025. Bybit is the initiator of the deal and has already initiated negotiations, but the transaction is currently in its early stages. This means that the details and terms of the agreement have not yet been finalized.

Korbit Comments

Korbit representatives declined to comment on the situation, stating that they are "not prepared to discuss current matters." This adds to the intrigue surrounding the potential deal, as information about the negotiations remains limited.

Korbit's Market Status

Korbit is the fourth-largest crypto exchange in South Korea and is effectively owned by two major shareholders: NXC Corp., part of Nexon Holdings, and SK Square, which control 60.5% and 31.5% of the shares, respectively. Media reports also indicate that SK Square plans to increase its stake in the company, which could impact the negotiations.

Regulatory Obstacles and New Opportunities

Bybit, with Chinese roots, has previously faced regulatory hurdles when attempting to acquire local companies. However, in October 2025, it was announced that local authorities had green-lighted the acquisition of the Gopax platform by Binance. This created a more favorable environment for foreign companies like Bybit seeking to expand their presence in the South Korean market.

Refutation of Information

Nevertheless, journalist Colin Wu reported that Bybit allegedly denied the information about the acquisition of Korbit. However, the company did not comment on the meeting mentioned in the press, leaving the question of the exchange's actual intentions open.

In Conclusion

Thus, Bybit's plans to acquire Korbit highlight the growing interest in the South Korean crypto market and the desire of foreign companies to strengthen their positions in the region. However, the uncertainty surrounding the deal and the lack of official comment create an atmosphere of anticipation and intrigue.