Mirae Asset Financial Group, South Korea’s largest financial conglomerate, has entered advanced talks to acquire domestic cryptocurrency exchange Korbit in a deal valued at roughly $100 million.
Mirae Asset Expands into Digital Assets
The company is conducting due diligence on Korbit’s operations, customer base, and regulatory compliance record before finalizing terms of the purchase. If completed, the deal would position Mirae as the first major financial institution in South Korea to fully own a licensed crypto trading platform.
Korbit, one of the country’s earliest exchanges founded in 2013, holds registration with the Financial Intelligence Unit (FIU) under South Korea’s strict crypto compliance rules. It currently ranks behind Upbit and Bithumb in trading volume but retains strong institutional backing and a long history of regulatory adherence. Industry observers view the potential takeover as a calculated move by Mirae to gain infrastructure, licensing, and expertise required for the next stage of regulated digital finance in Korea.
Executives within Mirae reportedly see Korbit’s existing framework as a shortcut to entering the market rather than building a new exchange from scratch. The acquisition would also allow the firm to test custody, tokenization, and digital payments models under a regulated environment before expanding those services across its broader banking and investment divisions.
Regulatory Context
South Korea’s financial authorities have tightened oversight of virtual asset service providers in recent years, demanding verified bank partnerships, real‑name accounts, and detailed internal controls. Mirae’s potential entry through a compliant exchange could set a precedent for other large institutions still cautious about managing direct crypto operations.
The move may push other financial groups, including KB Financial and Shinhan, to accelerate their digital strategies as the government implements the first phase of its Virtual Asset User Protection Act in 2026.
A successful acquisition would not only diversify Mirae Asset’s business portfolio but also reshape Korea’s crypto hierarchy, introducing a deep‑capitalized player at a time when global exchanges face increasing scrutiny and consolidation pressure. If finalized, the $100 million deal would mark one of the country’s defining moments in bringing institutional finance and digital assets under a single, regulated roof.
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