Bybit is allegedly in discussion with Korbit’s management to kickstart the acquisition of the South Korean crypto exchange.
It is rumored that Bybit is considering the acquisition of Korbit, South Korea’s fourth-largest cryptocurrency exchange. Some sources claim that Bybit has met with Korbit’s management to begin the acquisition process.
Bybit to Start with SK Planet’s Stake
Though no official announcement has been made concerning the acquisition, it could serve as an avenue for the international exchange to expand its roots in Asia’s crypto market. Noteworthy, NXC, the parent company of Nexon, owns about 60.5% of Korbit.
Another 31.5% is under the ownership of SK Planet, and this is where Bybit intends to start. The sources familiar with the matter stated the exchange will kickstart the deal by first taking up SK’s stake before moving on to full ownership. It is worth noting that Binance’s expansion in the Asian market has played a significant role in encouraging other exchanges to enter the region.
For context, Binance recently received approval from the Financial Intelligence Unit for the replacement of GOPAX executives. This favorable nod effectively allows foreign exchanges to own local platforms in the region. In the meantime, Korbit told BloomingBit that the Bybit acquisition is a baseless rumor.
South Korea Boosts Crypto Landscape with Regulations
In September 2025, South Korea’s Financial Services Commission (FSC) released new guidelines for lending services on centralized cryptocurrency exchanges (CEXs). The authorities in the region realized that as demand for crypto spiked in the country, it was necessary to improve regulation as well.
Crypto lending interest in South Korea is now capped at 20%. Meanwhile, lending is limited to only tokens within the top 20 by market capitalization and listed on at least three won-based exchanges.
At the beginning of 2025, Kim Byoung-hwan, Chairman of the FSC, revealed plans to accelerate cryptocurrency institutionalization. This demonstrated a stronger commitment to investor protection while staying in line with global trends. South Korea is obviously moving its weight to become one of the top crypto hubs in Asia.
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