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.
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
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
