Trading Platform bybit is considering acquiring Korbit, the fourth-largest cryptocurrency exchange in South Korea. Several sources, including South Korean news outlet Maeil Business, claim that company representatives have met with Korbit’s management to begin the acquisition process.
There has been no official announcement about the upcoming deal yet, but the exchange could become bybit an opportunity to gain a foothold in the Asian market. Its largest competitor is also striving for this—in October, South Korean regulators approved a change Binance management structure of GOPAX, another major local exchange. This decision officially completed the acquisition process. Binance 67% of the company’s shares, which began in early 2023.
The South Korean market is becoming increasingly attractive to crypto companies as the country’s government encourages the industry’s development.
Authorities have recognized that, due to the rapid growth in demand for digital assets, their regulation also needs to be improved. For example, in September 2025, the Financial Services Commission of South Korea issued new guidelines for the provision of credit services on centralized cryptocurrency exchanges.
Interest rates on crypto loans in South Korea are now capped at 20%. Loans are only available for tokens in the top 20 by market capitalization and listed on at least three exchanges where the won is the primary currency.