Bybit is considering acquiring South Korean exchange Korbit.
Date: 2025-11-11 Author: Gabriel Deangelo Categories: BUSINESS
South Korean media reported that representatives of Bybit and Korbit met on November 10, 2025, to discuss the possibility of a deal. According to sources, Bybit initiated the negotiations, and the process has already begun, although it is still in the early stages.
Korbit declined to comment, stating that it is "not yet ready to discuss current matters." The exchange is the fourth-largest by trading volume in South Korea and is owned by two key shareholders: NXC Corp., a Nexon holding company, and SK Square, which own 60.5% and 31.5% of the shares, respectively. SK Square is reportedly planning to increase its stake.
Bybit, whose roots lie in China, has previously faced difficulties acquiring South Korean companies due to strict regulatory restrictions preventing foreign investment in local crypto platforms. However, in October 2025, the country's authorities approved the first such deal – Binance's acquisition of the Gopax exchange. This precedent, according to analysts, could have encouraged other international platforms, including Bybit, to more actively seek opportunities to enter the South Korean market.
According to journalist Colin Wu, Bybit representatives officially denied any preparations for the acquisition of Korbit. However, the company did not deny the meeting itself, declining further comment.
Analysts note that if the deal does go through, it could significantly impact the balance of power in the Asian crypto sector. South Korea remains one of the most profitable and technologically advanced markets for cryptocurrency companies, and interest from major international exchanges indicates the region's growing strategic importance.
The situation also highlights the trend toward market consolidation: major players are increasingly seeking to strengthen their presence through acquisitions and partnerships, especially following regulatory easing. For Bybit, a potential acquisition of Korbit could provide access to a larger user base and strengthen the company's influence in Asia.
However, the lack of official confirmation and ambiguous statements from both parties leave the question of a possible deal open. Neither Bybit nor Korbit are yet ready to disclose details of the negotiations, and the South Korean press continues to monitor developments, awaiting further statements from the parties involved in the potential agreement.
