Bybit has invested in T-Scientific Co., Ltd, a move that would allow it to expand its presence in the Korean blockchain market.
Bybit, one of the fastest growing crypto exchanges in the world, announced that it has made a convertible bond investment in KOSDAQ-listed T-Scientific Co., Ltd. (“T-Scientific”).
According to the press release shared with Cryptowisser, Bybit’s investment aims to enable them to explore market expansions and new investment opportunities beyond partnerships in the Korean blockchain market.
Late last month, T-Scientific announced the issuance of convertible bonds with a total principal amount of 16 billion won (US$11,077,187). The company announced that Bybit acquired 5.5 billion won (US$3,807,783) on October 19, 2022.
This latest cryptocurrency news means that Bybit has opened up the potential for further exploration of the Korean blockchain and NFT markets with Korean regulated partners. The move is part of Bybit’s commitment to conducting all business in Korea in a responsible manner.
KOSDAQ-listed T-Scientific is an IT company operating a mobile coupon platform. The company is the third largest shareholder in Bithumb, a leading cryptocurrency exchange in South Korea. T-Scientific is also actively expanding into other blockchain businesses through its subsidiary Hanbitco Korea.
Although T-Scientific enjoys strong financial backing from its parent companies, it is trying to attract investment from global companies, including Bybit.
The investment would allow T-Scientific to further improve its financial position, expand its business reach to other blockchain companies, and ultimately solidify its leading position in the Korean blockchain and NFT market.
T-Scientific is striving to expand the business partnerships that would allow it to advance Korean projects worldwide and consolidate its position in the Korean market.
Bybit has expanded its presence worldwide. In July, the exchange partnered with Actant, a trading solutions provider, to offer the best first-in-class trading tools to both institutional and retail traders.
Bybit is a cryptocurrency exchange that has been around since March 2018. The exchange offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service, and multilingual community support.
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