Mirae Asset Pursues $100M Acquisition of South Korea's Korbit Exchange
South Korea's largest asset manager is in talks to acquire Korbit, signaling growing traditional finance interest in regulated crypto infrastructure.
Mirae Asset Financial Group, one of South Korea's largest asset managers, is in talks to acquire cryptocurrency exchange Korbit in a deal valued at up to $100 million.
What Happened
Mirae Asset Financial Group has signed a memorandum of understanding to acquire Korbit, South Korea's fourth-largest cryptocurrency exchange. The deal is valued between 100 billion and 140 billion Korean won ($70 million to $100 million), according to multiple Korean media reports.
The acquisition is being led by Mirae Asset Consulting, a non-financial affiliate of the group. This structure appears designed to navigate South Korea's 2017 policy separating financial companies from crypto businesses. Korbit is primarily owned by NXC, the holding company for gaming giant Nexon, which controls about 60.5% of shares, with SK Square holding an additional 31.5% stake.
Why It Matters
Founded in 2013, Korbit was South Korea's first crypto exchange and the world's first Bitcoin-Korean won trading platform. Despite this pioneering status, the exchange now commands less than 1% of domestic trading volume, far behind market leader Upbit.
The deal signals traditional finance's growing appetite for regulated crypto infrastructure. Mirae Asset announced its "3.0 era" strategy in October 2025, emphasizing convergence between traditional and digital assets with focus on Web3 and blockchain innovation. This follows Binance's successful acquisition of GOPAX in October 2025 and Naver Financial's pending acquisition of Dunamu, operator of Upbit.
What to Watch
Korbit holds a full operating license and compliance infrastructure, making it an attractive entry point for financial groups seeking regulated exposure to digital assets. The acquisition could accelerate as South Korea moves toward lifting institutional investment restrictions. Both Korbit and Mirae Asset have declined to comment on the ongoing negotiations.
Key Takeaways
This is a developing story as negotiations continue. The deal would represent one of the largest traditional finance entries into South Korea's crypto market.