- Mirae Asset Consulting plans to buy 26.9 million Korbit shares for 133.5 billion won, giving Mirae Asset a 92.06% controlling stake in the exchange.
- The deal aligns with Mirae Asset’s digital asset strategy and comes as South Korea prepares tokenized securities rules and ownership caps for crypto exchanges.
South Korea’s Mirae Asset financial group is moving to take control of Korbit, one of the country’s five major cryptocurrency exchanges, in a deal that underlines the growing overlap between traditional finance and digital asset platforms. The planned acquisition comes as lawmakers advance new rules for tokenized securities and tighter oversight of crypto exchange ownership, setting the stage for both opportunity and regulatory uncertainty.
Mirae asset moves to secure control of Korbit
Mirae Asset Consulting, the group’s consulting arm, disclosed on Friday that it has agreed to buy 26.9 million Korbit shares for 133.5 billion Korean won, or about $92.27 million. Once the transaction is completed, Mirae Asset Consulting will control 92.06% of Korbit, giving the financial group a clear majority stake and effective control of the exchange.
The shares are being acquired mainly from existing major investors. Sellers include NXC, the holding company behind local gaming giant Nexon, as well as subsidiaries of SK Group. SK Planet, an SK Group subsidiary focused on IoT, separately reported that it is selling 9.22 million Korbit shares for 45.7 billion won, equivalent to $31.6 million. All elements of the transaction remain subject to regulatory review and approval before they can close.
In its disclosure, Mirae Asset Consulting said the goal of the acquisition is to “secure future growth momentum based on digital assets.” Local news agency Yonhap reported that the move fits into the broader “Mirae Asset 3.0” strategy, which calls for more aggressive integration of digital assets with the group’s existing financial products and services.
Korbit’s position in South Korea’s crypto market
Korbit is currently the fourth-largest cryptocurrency exchange in South Korea when measured by trading volume. Over the past 24 hours, the platform handled approximately $95 million in trades. That figure is modest compared with Upbit, the country’s dominant exchange, which recorded $1.8 billion in trading volume over the same period.
Even so, acquiring Korbit gives mirae asset a direct foothold in a regulated domestic exchange at a time when digital asset activity is drawing more interest from large financial institutions. The deal follows a trend of traditional financial players locking in partnerships or ownership stakes in crypto platforms, as they position themselves for future developments in tokenization and digital securities.
Mirae Asset Financial Group itself has become one of South Korea’s largest financial institutions by assets. In September, the group reported that its assets under management had surpassed 1,000 trillion won, or roughly $721 billion. Bringing Korbit under its control adds a crypto-native business to that large portfolio, which otherwise centers on conventional financial services.
TradFi-crypto consolidation and regulatory headwinds for Mirae Asset
The Korbit acquisition is part of a broader consolidation between traditional finance and crypto in South Korea. In November, Naver’s financial division, representing one of the country’s leading internet companies, acquired Dunamu, the parent company of Upbit, through a stock-swap merger. That transaction gave a major tech and finance conglomerate direct exposure to the country’s largest digital asset exchange.
Yonhap’s reporting indicated that the Korbit deal places Mirae Asset in a position to benefit from what has been described as a coming era of tokenized securities. The national legislature recently approved measures to allow such tokenized instruments, opening the door for exchanges and financial groups to develop services tied to blockchain-based representations of traditional assets.
Despite the apparent strategic fit, Mirae Asset could soon face significant regulatory obstacles related to its new holding. Financial authorities are preparing the Digital Asset Basic Act, which is expected to introduce strict caps on the ownership stakes that any single major shareholder can hold in a cryptocurrency exchange. Under those rules, large investors may be required to reduce their holdings below a set threshold.
Because Mirae Asset plans to own 92.06% of Korbit once the transaction closes, such caps could force the group to sell down a substantial portion of its stake. The exact impact will depend on the final wording of the legislation and how regulators choose to apply it to already-announced deals. For now, the acquisition remains contingent on approval, and the eventual regulatory framework may determine how much long-term control Mirae Asset can retain over the exchange.
Conclusion
By agreeing to buy a controlling 92.06% interest in Korbit for 133.5 billion won, Mirae Asset is making a clear move into South Korea’s digital asset exchange sector while pursuing its “Mirae Asset 3.0” strategy. The transaction strengthens ties between conventional finance and crypto in a market already seeing major deals, such as Naver’s acquisition of Dunamu, the owner of Upbit.
At the same time, the planned purchase lands in the middle of significant regulatory change. New rules on tokenized securities and the forthcoming Digital Asset Basic Act could reshape both the opportunities and constraints facing large financial institutions in the crypto space. For Mirae Asset , the Korbit deal offers a pathway into digital assets, but future ownership caps may test how much of that position it is allowed to keep.
Disclaimer
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