- Mirae Asset Consulting becomes Korbits controlling shareholder after completing regulatory approval procedures.
- Korbit users will experience no changes as deposits, services, and data policies remain unchanged.
- The acquisition highlights growing institutional interest in South Koreas digital asset market.
Mirae Asset has completed its acquisition of South Korean crypto exchange Korbit, marking a major step by a traditional financial group into the digital asset sector. The deal positions Mirae Asset Consulting as Korbits largest shareholder after completing required regulatory procedures.
Mirae Asset Gains Control of Korbit Exchange
According to Korbit‘s announcement on Thursday, Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, officially became the exchange’s controlling shareholder. The acquisition followed approval procedures with relevant authorities, allowing the financial group to expand its presence in digital assets.
Korbit confirmed that its operating company remains unchanged after the ownership transition. Therefore, customers can continue using trading services, deposits, withdrawals, and account functions without disruption.
Additionally, Korbit stated that user deposits and virtual assets remain separately managed under South Koreas Virtual Asset User Protection Act. The exchange also confirmed that personal data processing policies will remain unchanged following the acquisition.
THE BLOCK: South Koreas Mirae Asset has completed its acquisition of local crypto exchange Korbit.
The operating entity, user deposits, and personal data handling remain unchanged, Korbit said Thursday.
Mirae Asset initially acquired a controlling stake of 92.06% in Korbit through Mirae Asset Consulting. The firm is also expected to increase its ownership further to 97.15% through an additional share purchase, according to local reports.
The additional transaction would raise Mirae Assets cumulative investment in Korbit to approximately 141.4 billion won. Previously, the financial group invested about 133.5 billion won to secure its majority position.
The acquisition represents one of the first cases where a major traditional South Korean financial group has taken control of a domestic cryptocurrency exchange. The move highlights increasing institutional interest in blockchain-based financial services.
Acquisition Signals Growing Traditional Finance Interest
Mirae Asset said the acquisition aims to secure future growth opportunities based on digital assets. The company has indicated interest in connecting traditional financial services with emerging blockchain technologies.
Korbit, founded as South Korea‘s first virtual asset exchange, remains among the country’s licensed cryptocurrency trading platforms. However, the exchange operates in a competitive market dominated by larger platforms.
The acquisition comes as South Korea continues developing clearer frameworks for digital assets. Financial institutions are increasingly exploring crypto infrastructure, tokenization, and blockchain-based services.
Meanwhile, regulatory authorities previously reviewed the transaction to assess potential market competition concerns. The Fair Trade Commission approved the deal after determining that the acquisition would not significantly restrict competition.
Mirae Assets entry into the crypto exchange sector could encourage other financial groups to explore similar opportunities. The development reflects a broader shift toward integrating digital assets within established financial systems.
As the partnership progresses, Korbit and Mirae Asset are expected to focus on expanding digital asset services. The companies aim to build stronger connections between traditional finance and the growing blockchain economy.