Derived from ChainCatcher, Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest cryptocurrency exchange, with a deal valued at 100–140 billion KRW ($70–100 million). The acquisition will be led by Mirae Asset Consulting, a non-financial subsidiary, which has signed a memorandum of understanding with Korbit’s major shareholders. Korbit is currently owned by NXC and its subsidiary Simple Capital Futures, who hold 60.5% of the equity, while SK Square holds 31.5%. Despite holding full operational licenses and compliance systems, Korbit’s market share in South Korea is limited, contributing less than 1% of the 24-hour trading volume among the country’s top six exchanges.
Mirae Asset Group to Acquire Korbit for $70M–$100M
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Summary
Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest crypto exchange, in a deal valued at 100–140 billion KRW ($70–100 million). Mirae Asset Consulting, a non-financial subsidiary, has signed an MOU with Korbit’s major shareholders. NXC and Simple Capital Futures own 60.5% of Korbit, while SK Square holds 31.5%. Despite full compliance and licenses, Korbit’s market share remains small, with less than 1% of the 24-hour trading volume in the top six exchanges. The digital asset market continues to see major consolidation. Traders are advised to keep an eye on altcoins to watch amid ongoing industry shifts.
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