Korbit, South Korea’s first cryptocurrency exchange, has become part of the Mirae Asset Group ecosystem, marking the first time a major Korean financial institution affiliate has secured a controlling stake in a local crypto exchange.
Founded in 2013, Korbit was the country’s first domestic cryptocurrency trading platform and has now moved under the ownership of Mirae Asset Group, one of South Korea’s leading financial companies.
The exchange announced Thursday that it is now affiliated with Mirae Asset Group, which reportedly managed about $1 trillion in assets as of May.
Mirae Asset Consulting, a group affiliate, acquired Korbit shares through official regulatory reporting procedures and became the platform’s largest shareholder. Korbit emphasized that the company operating the exchange, Korbit Co., Ltd., will continue its operations without any changes.
The acquiring firm, which also oversees Mirae’s hotel and golf-related businesses, reportedly now owns a 97.15% stake in the crypto exchange.
Korbit users will not see immediate changes following the acquisition. The exchange confirmed that core services, including account access, trading, deposits, and withdrawals, will continue without interruption. Customer funds and virtual assets will remain separated from corporate assets in line with South Korea’s Act on the Protection of Virtual Asset Users. The company also said its personal data handling practices will remain unchanged.
The acquisition highlights the growing efforts of traditional financial institutions to enter the digital asset market by gaining exposure to established crypto platforms. In South Korea, where cryptocurrency trading volumes among retail investors often rival stock market activity, ownership of a licensed exchange has become a valuable strategic advantage.
The trend is also gaining momentum across Asia. Japan’s SBI Group has expanded its crypto presence through plans to acquire Tokyo-based exchange Bitbank for $289 million and secure a majority stake in Singapore-based crypto exchange Coinhako.
Korbit’s move into the Mirae Asset Group network demonstrates how traditional finance and cryptocurrency businesses are increasingly converging as major institutions seek opportunities in the digital asset industry.
