Bybit Said to Be in Talks to Buy South Korean Crypto Exchange Korbit: Report
Bybit is reportedly in acquisition talks with Korbit, one of South Korea's oldest crypto exchanges, though Bybit denies knowledge of the discussions.Summary
According to media reports in South Korea, cryptocurrency exchange giant Bybit is in discussions to acquire Korbit, a long-standing local crypto exchange. The report from Maeil Business Newspaper indicated that Bybit executives met with Korbit management. However, a Bybit spokesperson told CoinDesk that the reported acquisition talks are "not within our knowledge," advising the public to monitor their official website for updates. Korbit also declined to comment on the ongoing matters. This potential acquisition comes as South Korean regulators, including the KoFIU and FSC, appear to be softening their stance, potentially allowing more foreign firms to purchase local exchanges. This follows the recent successful acquisition of Gopax by Bybit's larger rival, Binance, after clearing regulatory hurdles.
(Source：CoinDesk)