Key Highlights
- Bybit is reportedly in early talks to acquire Korbit, with SK Planet’s 31.5% stake likely the first target, reflecting its Asia expansion.
- South Korea’s evolving crypto regulations and NXC’s majority ownership make the potential Bybit-Korbit deal significant for the local market.
- The acquisition rumors have sparked community discussion, highlighting both opportunities and challenges for foreign crypto exchanges entering Korea.
Reports are circulating that global crypto exchange Bybit may be pursuing the acquisition of Korbit, South Korea’s fourth-largest cryptocurrency exchange.
According to a post by Wu Blockchain on X, citing South Korea’s Maeil Business Newspaper, Bybit has reportedly met with Korbit’s management to begin discussions regarding the potential acquisition.
Korbit is currently 60.5% owned by NXC, Nexon’s holding company, and 31.5% owned by SK Planet. Bybit is said to be considering acquiring SK Planet’s stake first before potentially moving toward full ownership.
Local media coverage
Maeil Business Newspaper reported that the discussions between Bybit and Korbit are still in the early stages. The newspaper noted that while the deal is not yet confirmed, industry insiders consider Bybit’s interest in Korbit a logical step given the exchange’s global expansion efforts.
The report also pointed to South Korea’s regulatory environment. In October 2025, South Korea’s Financial Intelligence Unit (FIU), under the Financial Services Commission (FSC), approved Binance’s request to change the executives at GOPAX.
Binance had originally applied for this back in March 2023, so the approval came more than two years later. Analysts quoted by the newspaper said the approval could encourage other foreign cryptocurrency exchanges to enter the Korean market through mergers or acquisitions.
Ownership and market context
Korbit is mostly owned by NXC, which holds a 60.5% stake, while SK Planet owns 31.5%. Reports suggest that SK Planet has been pulling back from its investments in cryptocurrency, which could make its stake available for sale.
South Korea is the world’s second-largest market for cryptocurrency trading after the United States. If foreign exchanges like Bybit enter the market, it could change the local crypto industry, especially since domestic banks and financial institutions are restricted from participating in cryptocurrency businesses.
Community reaction
The potential acquisition has generated discussion in the crypto community. One user commented: “Bybit buying Korbit? Interesting. NXC and SK Planet ownership suggests they weren’t fully committed to the crypto game. Question is, are they getting a bargain or a headache?”
Another user stated: “Smart move if they’re serious about tightening their Asia footprint.”
Wu Blockchain noted Bybit’s rapid growth since its founding in 2018, describing it as “the world’s second-largest virtual asset exchange” and highlighting its convenient futures trading platform as a driver of its expansion.
Bybit’s official statement
Despite circulating reports, Bybit has not officially confirmed or denied the acquisition. Wu Blockchain reported that Bybit “responded that it is unaware of the market rumors regarding the acquisition of Korbit and advised users to refer to its official website for future updates.” However, no such statement can be found on Bybit’s website or its X account, leaving the news unverified.
At present, the potential acquisition remains speculative. Observers are monitoring developments closely, as any confirmed deal could have significant implications for the South Korean virtual asset market.
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