Nikolas Sargeant
Leading crypto exchange Bybit, announced on Monday, October 24th, that it has invested in KOSDAQ-listed T-Scientific Co., Ltd. (“T-Scientific”). The crypto exchange said it completed a convertible bonds investment in the company, laying the foundation for it to explore market expansion and new investment opportunities beyond partnerships in the Korean blockchain market.
On September 30, 2022, T-Scientific announced the issuance of convertible bonds in an aggregate principal amount of 16 billion won, of which 5.5 billion won were acquired by Bybit on October 19, 2022.
Thanks to this latest development, Bybit has opened the potential to further exploration of Korea’s blockchain and NFT markets with Korean-regulated partners. Bybit said this latest development is part of its ambition to conduct any Korean business operations in a responsible manner.
T-Scientific is an IT company operating a mobile coupon platform. The company is also currently the third-largest shareholder of Bithumb, a Korean virtual asset exchange, and is actively expanding its activities into the blockchain business through its subsidiary Hanbitco Korea.
T-Scientific is looking to attract investment from global companies like Bybit despite enjoying strong financial backing from its parent group companies. This is because T-Scientific is looking to enhance its financial position further, increase its business reach into other blockchain businesses, and ultimately solidify its leading position in the Korean blockchain and NFT market.
T-Scientific added that it is looking to strengthen business collaborations that would allow it to push Korean projects globally and cement its position in the Korean market through the Bybit investment and its recent Hanbitco acquisition.
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support.
The low Bybit fees make it one of the fastest-growing cryptocurrency exchanges at the moment. Furthermore, Bybit reviews have generally been positive, as the exchange has provided traders with the necessary tools to trade successfully.
