Share this article
Gaming Firm to Buy $80 Million Stake in Korean Bitcoin Exchange Korbit
Gaming firm Nexon has agreed to buy a majority stake in South Korea's Korbit cryptocurrency exchange for roughly $80 million.
Updated Sep 13, 2021, 6:58 a.m. Published Sep 26, 2017, 1:30 p.m.
Make us preferred on Google
Interest in South Korea's booming cryptocurrency market continues apace.
Following its emergence as a global leader in bitcoin and cryptocurrency volume, local exchange startup Korbit has announced that PC and mobile gaming firm Nexon has signed a stock trading agreement that would see it acquire Korbit's management rights.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to local news source, Hankyung, Nexon has agreed to purchase a 65 percent stake in Korbit at a sale price of 91.3 billion Korean won (roughly $80 million).
Data from CoinMarketCap indicates that Korbit sees roughly 11,500 BTC in daily trading, volumes that place it in the top 15 bitcoin exchanges globally.
As evidence that domestic interest is expanding to corporates, Nexon reportedly acquired Korbit to diversify its business, the news source said, further indicating that the gaming firm believes the blockchain market will grow in coming years.
The move follows on the heels of news this week that mobile app maker Dunamu would also seek enter the market, announcing the launch of a new exchange in a joint venture with U.S. exchange Bittrex.
Founded in 1995, U.S.-based Nexon specializes in massively multiplayer online role-playing games (MMORPGs) and internet quiz games, offering products that notably utilize micro-transactions for in-game purchases.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Korbit.
South Korean won image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tokenization 'supercycle' set to drive crypto’s next leg higher in 2026: Bernstein
After a choppy end to 2025, Wall Street broker Bernstein said crypto markets have likely bottomed and it sees a broad-based tokenization boom reshaping finance.
What to know:
- Bernstein expects a tokenization 'supercycle' in 2026 spanning stablecoins, capital markets and prediction markets.
- The broker reiterated its $150,000 bitcoin forecast for 2026 and $200,000 as its peak 2027 cycle target.
- Coinbase, Robinhood and other crypto-linked equities are seen as key beneficiaries.
