Mirae Asset advances plan to acquire Korbit and strengthen presence in the cryptocurrency sector

The South Korean financial group Mirae Asset, headquartered in Seoul, is in advanced negotiations to acquire a majority stake in the Korbit exchange. According to reports by Korea Times, the company is structuring a deal that could reach up to 140 billion won (approximately $97 million) to consolidate its control over the cryptocurrency trading platform.

Digital Asset Expansion Strategy

This initiative marks Mirae Asset Financial Group’s first significant move into the cryptocurrency sector. Known for its operations in asset management, wealth management, investment banking, and insurance, the company has been seeking opportunities to connect the traditional financial system with the digital assets universe.

A group representative highlighted that Park Hyeon-joo, founder of Mirae Asset, emphasizes the importance of exploring emerging possibilities at the intersection of traditional finance (TradFi) and cryptocurrencies. As stated in press statements, acquiring an established platform like Korbit would allow the conglomerate to develop a differentiated approach, leveraging decades of expertise in financial markets to enhance operations in the crypto sector.

Korbit’s Position in the South Korean Market

The exchange holds a significant position among South Korea’s leading cryptocurrency platforms. Data compiled by CoinGecko shows that Korbit ranks as the fourth largest in transaction volume among the six main authorized exchanges in the country. In the last 24 hours, the platform recorded trading activity of around $11.8 million.

While this number is considerable, it is below the volumes observed in more established competitors. Upbit leads the ranking with an impressive $1.2 billion moved in the same period, while Bithumb handles $475 million. Coinone ranks third with a trading volume of $58 million, clearly illustrating the competitive hierarchy of the South Korean market.

Strategic Repositioning Opportunity

Mirae Asset’s acquisition of Korbit could represent a turning point for the platform. With the financial backing and accumulated experience of one of South Korea’s leading financial groups, Korbit could expand its operational capabilities and compete more aggressively in the local market. The convergence of the solidity of the traditional financial sector and digital asset operations could open pathways for innovative product offerings.

Negotiation Status

The negotiations involve the acquisition of approximately 92% of Korbit, constituting a substantial integration operation. Neither Mirae Asset nor Korbit has responded to additional comment requests from CoinDesk so far, maintaining confidentiality regarding specific details and timelines of the negotiations.

The potential completion of this deal aligns with a broader trend in the cryptocurrency sector. Mergers and acquisitions in the crypto space reached record levels in 2025, totaling over $8.6 billion, driven in part by the favorable regulatory environment established with new government administrations.