Mirae Asset, one of South Korea’s largest financial groups, is in discussions to acquire a 92% stake in local cryptocurrency exchange Korbit for up to 140 billion won, or about $97 million. If completed, the transaction would represent Mirae Asset’s first direct investment in a crypto-related business, according to local media reports citing industry officials.
Korbit is the fourth-largest of South Korea’s six licensed crypto exchanges by trading volume, trailing market leaders Upbit and Bithumb by a wide margin. Its relatively modest scale has limited its competitive positioning, but a deal with Mirae Asset could provide access to capital, operational expertise, and broader institutional distribution.
The potential acquisition reflects a gradual shift among traditional financial institutions in South Korea as regulators provide clearer oversight of digital asset markets. While competition remains intense, institutional ownership could reshape Korbit’s strategy and signal growing convergence between traditional finance and regulated crypto infrastructure in the region.
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