Mirae Asset in Talks to Acquire Controlling Stake in South Korean Crypto Exchange Korbit

​Mirae Asset Financial Group is in discussions to acquire a majority stake in Korbit, South Korea’s fourth-largest cryptocurrency exchange, according to industry sources cited by local media.

The potential transaction could value the combined stake at between 100 billion and 140 billion won ($70 million to $98 million). Mirae Asset is reportedly negotiating to purchase a 60.5% stake from NXC, Korbit’s largest shareholder, and a 31.5% stake from SK Planet. A combined 92% ownership would give the group effective control of the exchange.

Korbit operates in a highly concentrated domestic market dominated by Upbit and Bithumb, which together account for more than 95% of South Korea’s cryptocurrency trading volume. Korbit, along with Coinone and GOPAX, shares the remaining single-digit market portion.

Founded in the late 1990s, Mirae Asset has focused on traditional financial services and has not previously operated a cryptocurrency exchange. The acquisition, if completed, would reportedly be led by Mirae Asset Consulting, the group’s real estate and advisory unit that sits above its securities, asset management, venture capital, insurance, and pension businesses.

An industry source quoted by The Korea Times said the potential bid aligns with Chairman Park Hyun-joo’s broader interest in digital asset-based financial innovation, adding that Mirae Asset’s experience could enable a differentiated strategy despite Korbit’s limited market presence.

The talks come amid increased merger and acquisition activity between traditional financial firms and crypto platforms. In 2025, IG Group acquired Australia-based Independent Reserve for £87 million, while Robinhood completed its purchase of Bitstamp, gaining regulated access to multiple global markets. In a reverse move, Crypto.com acquired a CySEC-regulated broker to expand into European derivatives trading.

Market observers note that competition among global financial and technology firms for positioning in the digital asset sector remains intense. Whether Mirae Asset can use its scale and expertise to shift South Korea’s entrenched exchange landscape remains uncertain.