The cryptocurrency giant Bybit is reportedly considering a major move in Asia. According to several South Korean media outlets, the Dubai-based exchange is in advanced discussions to acquire Korbit, one of the oldest crypto platforms in the country. If confirmed, this operation would further solidify Bybit’s dominance in the global market, already second only to Binance.
Bybit pourrait racheter le géant coréen Korbit
Reports from the financial newspaper Maeil Business suggest that meetings have taken place between executives of Bybit and those of Korbit, located in the Gangnam district of Seoul. Despite being contacted by several media outlets, Korbit has declined to comment.
Bybit, on the other hand, remains cautious:
We are aware of market rumors regarding a possible acquisition, but this is beyond our knowledge.
This statement neither confirms nor denies the speculation, leaving room for uncertainty.
Un contexte réglementaire plus souple en Corée
In recent months, South Korean financial authorities have relaxed their stance towards foreign players, a rare shift in a country historically strict on digital asset regulation.
The Korea Financial Intelligence Unit (KoFIU) and the Financial Services Commission (FSC) now seem more open to local acquisitions by foreign companies.
This regulatory relaxation has already allowed Binance to finalize the acquisition of the Gopax exchange, marking its return to the Korean market after two years of negotiations with regulators.
Korbit, une pièce historique du puzzle crypto coréen
Established in 2013, Korbit has been a part of the historical landscape of South Korean crypto. In 2017, it was acquired by the game developer Nexon at a time when Korea was one of the most dynamic hubs for Bitcoin trading.
Over the years, the platform has lost ground to giants like Upbit and Bithumb, making it a potential target for an international player looking to strengthen its presence in the region.
Une bataille d’influence entre géants
For Bybit, which has been expanding its presence in Asia since the beginning of the year, this acquisition would be a major entry point into a notoriously challenging market.
For Binance, already established, the arrival of a competitor of this size in South Korea could reignite competition in an ultra-concentrated local market.
And for Seoul, opening up to these foreign giants may herald a new era: one of a globalized but regulated crypto finance, where South Korea could once again become a pivotal regional hub.
Une stratégie claire : conquérir l’Asie
If the acquisition is confirmed in the coming months, Bybit would emerge as the big winner of the new wave of Asian expansion. After the Middle East and Europe, the Korean market would be the missing piece in its strategic puzzle.
One thing is certain: between Bybit, Binance, and local exchanges, the battle for Asian leadership is only just beginning.
