South Korean media has reported that the cryptocurrency exchange Bybit is considering the acquisition of the trading platform Korbit. According to the press, this move is aimed at strengthening Bybit’s position in the local digital asset market.
This is reported by Business • Media
Details of the Possible Deal Between Bybit and Korbit
It is reported that a meeting between representatives of the companies took place on November 10, 2025, initiated by Bybit. Preliminary information suggests that the negotiation process has just begun, and the agreement is at an early stage. Korbit has refrained from commenting on this situation, stating that they are “not ready to address current issues.” Korbit is currently considered the fourth largest exchange by trading volume in South Korea and is owned by two major shareholders: NXC Corp. (part of the Nexon holding) owns 60.5% of the shares, while SK Square holds 31.5%. It is noted that SK Square plans to increase its stake in the company.
Impact of Regulatory Changes and Market Participants’ Reactions
Bybit, which originates from China, has previously faced regulatory barriers in attempts to acquire local financial service providers in South Korea. However, in October 2025, it became known that local authorities approved another major deal: Binance received the “green light” to acquire the Gopax exchange. Against the backdrop of these changes, Bybit has intensified its efforts to expand its presence in the Korean market.
Despite media reports, journalist Colin Wu released a statement that Bybit denied the information regarding preparations to acquire Korbit. At the same time, the company did not provide any comments regarding the mentioned meeting.
“Not ready to address current issues.”