South Korea’s financial heavyweight Mirae Asset Financial Group is acquiring a 92.06% stake in local cryptocurrency exchange Korbit for approximately $92 million, marking one of the largest traditional finance entries into the country’s regulated digital asset sector. The shares, totaling 26.9 million, are being purchased primarily from existing major stakeholders, including entities linked to NXC and SK Group, and remain subject to regulatory approval.
The acquisition will give Mirae Asset effective control over Korbit, currently the fourth-largest crypto exchange in South Korea by trading volume. The firm stated the deal is intended to secure future growth momentum tied to digital assets, aligning with its broader “Mirae Asset 3.0” strategy focused on integrating emerging financial technologies into core services.
Institutional Convergence Accelerates in Korea
The transaction reflects a broader trend of convergence between traditional financial institutions and crypto platforms across Asia’s regulated markets. With more than $700 billion in assets under management, Mirae Asset is positioning itself to capture long-term value from tokenization, digital custody, and exchange infrastructure as regulatory clarity improves.
Korbit processes roughly $95 million in daily trading volume, significantly smaller than domestic leader Upbit, which exceeds $1.8 billion in 24-hour volume. Despite the competitive gap, institutional ownership could enhance Korbit’s compliance capabilities, liquidity access, and product development within a tightly regulated domestic ecosystem.
The move also follows increased consolidation in South Korea’s fintech and crypto landscape, where large technology and financial conglomerates are seeking strategic stakes in licensed exchanges to secure regulated exposure to digital assets.
Regulatory and Competitive Considerations
The acquisition comes as South Korean lawmakers advance the Digital Asset Basic Act, which may introduce stricter ownership caps for major shareholders of crypto exchanges. Such provisions could potentially require Mirae Asset to reduce its stake in the future, adding a layer of regulatory uncertainty to the transaction.
At the macro level, institutional capital continues to reshape the digital asset industry globally, with banks and asset managers prioritizing regulated infrastructure over speculative exposure. Within this context, Mirae Asset’s entry into exchange ownership signals a strategic pivot toward vertically integrated digital asset services, including trading, custody, and tokenized securities.
As competition intensifies and regulatory oversight expands, the deal underscores how established financial groups are leveraging acquisitions to accelerate digital asset capabilities while positioning for the next phase of institutional crypto adoption in Asia.