Bybit in Talks to Acquire South Korea’s Fourth-Largest Exchange
Global is reportedly in ahead discussions to acquire Korbit, South Korea’s fourth-largest platform, as part of its plan to expand its presence in Asia’s regulated markets.
According to , Bybit has held initial meetings with Korbit’s management about a potential deal that could begin with the acquisition of SK Planet’s 31.5% stake, followed by a move toward full ownership.
Korbit, founded in 2013, is majority-owned by NXC, the parent company of gaming giant Nexon, which holds around 60.5%, while SK Planet owns the remainder. The platform is one of the few licensed platforms operating in South Korea under the country’s strict digital asset regulations, alongside Upbit, Bithumb, and Coinone.
The reported discussions come amid a shift in regulatory sentiment, as South Korea’s Financial Intelligence Unit (FIU)has recently shown more openness to foreign participation in the local crypto industry.
Neither Bybit nor Korbit has issued a statement confirming the deal. Both companies have yet to comment on the state of negotiations or whether a formal agreement is underway.
The discussions come amid a broader regulatory opening in South Korea’s crypto sector. The country’s Financial Intelligence Unit (FIU) has recently shown more flexibility toward foreign participation, .
However, analysts note that acquiring Korbit would allow Bybit to gain direct access to Korea’s large trading market, established banking relationships, and regulatory compliance infrastructure—advantages that are hard to secure independently in such a tightly controlled environment.
South Korea’s Growing Market
The talks come as Binance’s position in South Korea evolves following its long-delayed acquisition of GOPAX. later than months of regulatory delays, Binance finalized the deal but later , reportedly under pressure from financial authorities concerned about governance and anti-money laundering oversight.
The adjustment reflected the complex landscape foreign platforms face when entering the Korean market, where any ownership or management change requires thorough regulatory vetting.
If Bybit completes the acquisition, it could mark a pivotal moment for the Korean crypto ecosystem. The deal would not only strengthen Bybit’s foothold in Asia but also signal a growing wave of consolidation as international platforms viewk entry into mature markets by acquiring established, compliant platforms.
However, success will depend on regulatory approval and how effectively Bybit can align its global operations with South Korea’s strict compliance standards.
