As per Coincu, Mirae Asset is set to acquire a 92% stake in Korbit, a South Korean cryptocurrency exchange, in a deal valued at 140 billion Korean won (approximately 97 million US dollars). This acquisition marks Mirae Asset’s first foray into the crypto market and aligns with founder Park Hyeon-joo’s strategy to integrate traditional and digital assets. Korbit, though compliant, currently lags behind major exchanges like Upbit and Bithumb in trading volume. The move is expected to reshape the South Korean crypto landscape, especially amid recent regulatory reforms such as the Digital Asset Basic Act, which facilitates institutional participation in digital assets.
Mirae Asset to Acquire 92% Stake in Korbit for 140 Billion KRW
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Summary
Mirae Asset is acquiring a 92% stake in Korbit, a South Korean crypto exchange, for 140 billion KRW (about $97 million). This is the firm’s first entry into the digital asset market. Korbit, though compliant, trails larger exchanges in trading volume. The deal comes as the digital asset market in South Korea gains regulatory clarity under the Digital Asset Basic Act. Traders are keeping an eye on altcoins to watch as institutional interest in crypto grows.
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