Mirae Asset to Acquire Controlling Stake in Korea’s Korbit Exchange for $93 Million
Seoul, Feb 15 2026 – Mirae Asset Consulting, a subsidiary of the South‑Korean financial conglomerate Mirae Asset Group, announced a plan to purchase a majority interest in domestic cryptocurrency platform Korbit. The deal, valued at roughly 133.48 billion won (≈ $93 million), would give the investor over 92 % ownership of the exchange once the transaction closes.
Deal structure
- Shares purchased: 26.9 million Korbit shares
- Ownership after acquisition: 92.06 %
- Consideration: All‑cash payment
- Closing timeline: The purchase will be finalized within seven business days after all contractual conditions are satisfied, according to a regulatory filing submitted on Friday.
The Mirae Asset board gave its approval on 5 February, and the proposal first emerged in media reports last year.
Why Mirae Asset is buying
Mirae Asset’s filing cites “securing future growth drivers through digital‑asset (virtual‑asset) businesses” as the primary motive. By taking control of a regulated exchange that holds a full operating license, the group aims to:
- Expand into a legally compliant crypto ecosystem – Korbit’s established compliance framework offers a ready‑made gateway to regulated digital‑asset services.
- Diversify revenue streams – The acquisition aligns with Mirae Asset’s broader strategy of integrating fintech and traditional finance.
- Leverage Korbit’s recent profitability – In its latest fiscal year, Korbit reported 8.7 billion won in revenue and 9.8 billion won in net profit, marking a turnaround from previous losses.
Current ownership and market position
Prior to the transaction, Korbit was chiefly owned by NXC and its subsidiary Simple Capital Futures (≈ 60.5 %), with SK Square holding about 31.5 %. The exchange operates under a full domestic license, a rare attribute among Korean crypto platforms.
Despite its regulatory standing, Korbit remains a smaller player in the national market. Data from CoinGecko shows that out of roughly $3.64 billion in 24‑hour trading volume across Korean exchanges, Korbit accounts for about $60 million. By comparison:
- Upbit: ≈ $2.16 billion
- Bithumb: ≈ $1.36 billion
- Other venues (e.g., INEX): < $1 million
The modest volume underscores the growth potential that Mirae Asset may seek to unlock.
Industry context
Korbit’s sale comes amid a wave of consolidation activity in South Korea’s crypto sector. Coinone, another local exchange, is reportedly exploring a sale of its 53.4 % controlling stake. These moves reflect increasing interest from traditional finance institutions in gaining regulated exposure to digital assets, especially after recent regulatory scrutiny of domestic platforms such as Bithumb.
Analyst perspective
- Strategic fit: Mirae Asset’s acquisition could give the group a foothold in a tightly regulated segment, mitigating the compliance risks that have plagued many crypto firms.
- Potential synergies: Integration with Mirae Asset’s existing wealth‑management and brokerage services may enable bundled crypto products for retail and institutional clients.
- Market impact: While Korbit’s current trading volume is modest, the backing of a major financial group could attract new liquidity, potentially narrowing the gap with market leaders.
Key takeaways
- Mirae Asset will own > 92 % of Korbit after a cash deal worth $93 million.
- The purchase aims to diversify Mirae Asset’s business into regulated digital‑asset services.
- Korbit has just turned profitable, reporting 8.7 billion won revenue and 9.8 billion won net profit.
- Despite a full operating license, Korbit’s market share is small relative to Upbit and Bithumb.
- The transaction signals a broader trend of traditional finance firms entering Korea’s crypto space.
Mirae Asset’s move marks a notable step toward bridging conventional finance and the burgeoning digital‑asset industry in South Korea. The deal’s completion is anticipated within the next week, pending the satisfaction of all contractual conditions.
Source: https://cointelegraph.com/news/mirae-asset-buy-92-percent-korbit-korea-crypto-exchange?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
