Mirae Asset is considering expansion into the crypto segment through the acquisition of the Korbit exchange

South Korean financial group Mirae Asset is actively negotiating to enter the cryptocurrency market. According to Korea Times, the company plans to acquire the cryptocurrency exchange Korbit, becoming the owner of 92% of the exchange’s shares. The deal could amount to up to 140 billion won, approximately 97 million dollars.

Korbit’s Position in South Korea’s Digital Asset Market

The Korean cryptocurrency market is represented by several major players. According to CoinGecko, Korbit ranks fourth in trading volume among exchanges registered in the country. This lag behind the leaders is quite significant: Korbit’s 24-hour trading volume is only $11.8 million. In comparison, Upbit, the largest exchange in the market, demonstrates a daily turnover of $1.2 billion. Bithumb, in second place, processes $475 million daily. The third place belongs to Coinone with a volume of $58 million.

Terms and Details of the Acquisition Offer

According to sources close to the negotiations, Mirae Asset intends to acquire a controlling stake of 92%. The deal’s value is estimated to be up to 140 billion Korean won. This will be the first attempt by the financial group to enter the cryptocurrency-related business. Negotiations are ongoing intensively, but neither Mirae Asset nor Korbit’s management has issued an official comment regarding the deal.

The First Step of a Traditional Financial Group into the Crypto Ecosystem

Mirae Asset is one of the flagship traditional financial sectors in South Korea. The company provides asset management, wealth management, investment banking advisory, and insurance services. The group’s leadership, including the founder, sees strategic importance in exploring the synergy between traditional financial instruments and digital assets.

Industry representatives say that this acquisition will allow Mirae Asset to implement a differentiated approach to developing the crypto market. Although Korbit has had limited market presence in the past, the experience and resources of a large financial group could radically change the situation in the market and strengthen the platform’s position.

Significance of the Deal for the Development of South Korea’s Crypto Sector

This acquisition reflects the growing interest of traditional financial institutions in digital assets. Mirae Asset’s entry into the crypto segment could mark a turning point for Korbit, which will gain access to an extensive client network and financial resources of a large corporation. Such developments demonstrate that the cryptocurrency sector is becoming increasingly integrated into the structure of the global and local financial ecosystem.