Published: December 29, 2025
Mirae Asset Financial Group, one of South Korea’s leading asset managers, is in negotiations to acquire Korbit, the country’s fourth-largest cryptocurrency exchange. The potential deal, valued at approximately $70-100 million (100-140 billion KRW), would mark a significant entry by traditional finance into the regulated digital asset space.
Deal Details and Valuation
- Valuation range: $70-100 million, aiming for majority or full ownership.
- Major stakeholders: NXC (Nexon holding company) with ~60.5% stake, SK Square with ~31.5%.
- Lead entity: Mirae Asset Consulting, a non-financial affiliate, has signed an MOU with key shareholders.
- Korbit overview: Founded in 2013/2014, one of Korea’s earliest exchanges with a full regulatory license.
Despite Korbit’s modest market share (<1% of daily volume), its compliance infrastructure makes it an attractive target.
Current Deal Status
Discussions are ongoing as of late December 2025, with no final agreement or official confirmation from Mirae Asset or Korbit. The structure via a non-financial subsidiary navigates South Korea’s rules separating traditional finance from crypto operations.
Strategic Implications for Crypto in Korea
- Signals growing convergence between conventional finance and digital assets in a market with ~10 million crypto users.
- Follows regulatory easing on foreign/institutional involvement and parallels other M&A (e.g., Naver-Dunamu).
- Could enhance competition and innovation while raising standards for compliance and user protection.
- Market context: Upbit dominates ~70-80%, Bithumb ~20-25%, leaving room for revitalized smaller players.
Why Mirae Asset Targets Korbit
Korbit provides a ready-made, licensed platform for Mirae Asset to enter crypto without building from scratch. In a maturing market with strict oversight, acquiring established infrastructure offers efficient access to growth opportunities in trading, custody, and related services.
Conclusion
If completed, the Mirae Asset-Korbit deal would highlight traditional institutions’ increasing confidence in South Korea’s regulated crypto ecosystem. As talks progress, it underscores the sector’s evolution toward greater integration with mainstream finance.
Disclaimer: This article is for informational purposes only and does not constitute investment or financial advice. Deal details are based on reports and remain subject to change.
