Key Notes

South Korea's Maeil Business Newspaper reported that Bybit is considering the acquisition of Korbit.

It intends to start by acquiring a 31.5% stake, which belongs to SK Planet.

Korbit claims that the Bybit acquisition is a baseless rumor.

It is rumored that Bybit is considering the acquisition of Korbit, South Korea’s fourth-largest cryptocurrency exchange. Some sources claim that Bybit has met with Korbit’s management to begin the acquisition process.

Bybit to Start with SK Planet’s Stake

Though no official announcement has been made concerning the acquisition, it could serve as an avenue for the international exchange to expand its roots in Asia’s crypto market. Noteworthy, NXC, the parent company of Nexon, owns about 60.5% of Korbit.

Another 31.5% is under the ownership

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