Korbit Joins Mirae Asset Group as Affiliate Takes 97.15% Stake
Key Takeaways
- •Mirae Asset Consulting now owns 97.15% of Korbit, making it the exchange’s controlling shareholder.
- •Korbit said Korbit Co., Ltd. will continue operating the platform without immediate service disruption.
- •Customer deposits and virtual assets will remain segregated from company assets under South Korea’s virtual asset user protection law.
- •The deal is the first time an affiliate of a traditional Korean financial group has taken control of a domestic crypto exchange.
- •Similar consolidation is occurring elsewhere in Asia, including SBI Group’s planned acquisition of Bitbank and majority stake purchase in Coinhako.
Korbit, South Korea’s first homegrown cryptocurrency exchange, has become part of the Mirae Asset Group family after an affiliate of the financial group took a controlling stake in the platform.
Mirae Asset Consulting, an affiliate of Mirae Asset Group, now holds a 97.15% stake in Korbit, making it the exchange’s largest shareholder. Korbit said the share acquisition was completed through mandated regulatory reporting procedures.
The move marks the first time an affiliate of a traditional Korean financial group has taken a controlling stake in a domestic cryptocurrency exchange. Korbit was founded in 2013 and is South Korea’s oldest crypto exchange. Mirae Asset Group reportedly had assets under management of $1 trillion as of May.
Korbit said the transaction does not alter the legal entity that operates the exchange. Korbit Co., Ltd. will continue to run the platform, and the company said there will be no immediate disruption for users.
According to the exchange, services including login, trading, deposits and withdrawals will continue without interruption. User deposits and virtual assets will also remain segregated from company assets, in line with South Korea’s Act on the Protection of Virtual Asset Users. Korbit said its handling of personal data remains unchanged and that users do not need to take any action.
Mirae Asset Consulting also oversees the group’s hotel and golf course businesses, according to the announcement.
The deal reflects continued interest from traditional financial companies in existing crypto businesses as they seek to expand their presence in digital assets. In South Korea, where retail cryptocurrency trading volumes often rival activity on stock exchanges, ownership of a licensed crypto exchange can be a significant strategic position. The emphasis on uninterrupted services, segregation of customer assets and unchanged data handling also shows how operational continuity remains central when a regulated crypto platform changes control.
Similar activity has appeared elsewhere in Asia. SBI Group, the Japanese financial conglomerate, agreed to acquire Tokyo-based cryptocurrency exchange Bitbank for $289 million and to purchase a majority stake in Singapore-based Coinhako.
CoinDesk said it reached out to both Mirae and Korbit for comment.
