Bybit Moves to Expand in South Korea with Korbit Acquisition

Bybit Will Start with a Stake in SK Planet

Although no official announcement has been made regarding this acquisition, it could prove to be a way for this international exchange to establish its roots in the Asian crypto market. It's worth noting that Nexon's parent company, NXC, holds approximately 60.5% of Korbit.

SK Planet holds the remaining 31.5%, and Bybit intends to begin its operations there. Sources familiar with the matter stated that the exchange will initiate the deal by first acquiring SK's stake and then acquiring full ownership. It's worth noting that Binance's expansion into 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 to replace GOPAX executives. This favorable approval effectively allows foreign exchanges to acquire ownership of local platforms in the region. Meanwhile, Korbit told BloomingBit that the Bybit acquisition is an unfounded rumor.

South Korea Boosts Crypto Scene with Regulations

In September 2025, South Korea's Financial Services Commission (FSC) issued new guidelines for lending services on centralized cryptocurrency exchanges (CEXs). Regional officials believe that as crypto demand grows in the country, it is also necessary to improve regulation.

Crypto loan interest rates in South Korea are now capped at 20%. Meanwhile, loans are limited to tokens that are in the top 20 by market capitalization and listed on at least three won-based exchanges.

As early as 2025, FSC Chairman Kim Byeong-hwan unveiled a plan to accelerate the institutionalization of cryptocurrencies. This demonstrated a strong commitment to investor protection while remaining in line with global trends. South Korea is clearly building its potential to become one of Asia's top crypto centers.

Read the original article "Bybit Eyes South Korean Expansion with Korbit Acquisition" by Godfrey Benjamin on Coinspeaker.com.