South Korean financial giant Mirae Asset aims to acquire the local exchange Korbit, as traditional finance accelerates its entry into the crypto market

【Coinpurse】South Korea’s major financial group Mirae Asset is in acquisition negotiations with domestic crypto trading platform Korbit, aiming to acquire approximately 92% of its shares. It is understood that the valuation of this deal could reach up to 140 billion KRW (about $97 million).

Mirae Asset is headquartered in Seoul and has a presence in asset management, wealth management, investment banking, and insurance, making it a well-established institution in Korea’s traditional financial sector. If this deal succeeds, it will mark their first official entry into the cryptocurrency business.

Mirae Asset’s founder, Hyeon-joon Park, has mentioned multiple times in recent years his interest in exploring the integration of traditional assets and digital assets. Industry analysts believe that although Korbit is not particularly well-known in the market, Mirae Asset’s years of accumulated financial experience and resources could help Korbit find a differentiated development path.

Data shows that Korbit ranks fourth among Korea’s six compliant exchanges, with a 24-hour trading volume of approximately $11.8 million. In comparison, leading market platform Upbit has a daily trading volume of about $1.2 billion, Bithumb around $475 million, and the third-ranked Coinone approximately $58 million. This comparison indicates that Korbit still has significant growth potential in the competitive market.