South Korean financial giant Mirae Asset Group is reportedly in the final stages of a deal to purchase Korbit, the nation’s fourth-largest cryptocurrency exchange. Valued between $70 million and $100 million, the move signals a major shift as traditional finance seeks a deeper foothold in the digital asset market.
To navigate South Korea’s strict regulations—which prohibit financial institutions from directly owning virtual asset businesses—the acquisition is being spearheaded by Mirae Asset Consulting, a non-financial affiliate. A memorandum of understanding (MOU) has already been signed, allowing the group to begin formal due diligence.
Korbit is currently controlled by NXC (Nexon’s holding company) and SK Square. Although Korbit was an early pioneer in the industry, it currently holds less than 1% of the domestic market share. However, its small size is viewed as an advantage, offering Mirae Asset a "clean" entry point without the regulatory or operational baggage of a market leader.
The attraction for Mirae Asset isn't Korbit's volume, but its regulatory compliance. Korbit is a fully licensed entity with established anti-money laundering (AML) protocols and real-name account systems already in place. By acquiring an existing platform, Mirae Asset gains:
While the MOU is a major milestone, the deal still requires a final audit and regulatory greenlighting. If successful, this acquisition could trigger a trend of "buying vs. building" among traditional Korean firms, indicating a maturing confidence in the country's digital asset framework.
December 2025, Cryptoniteuae