Mirae Asset Acquires Controlling Stake in Korbit Crypto Exchange

Mirae Asset acquires 92.06% of Korbit crypto exchange, investing 133.5 billion won to expand regulated crypto services, signaling stronger institutional digital asset adoption momentum.

South Korea’s Mirae Asset Financial Group has moved decisively into the crypto sector. The firm announced plans to acquire a commanding stake in Korbit crypto exchange. The deal represents one of the biggest traditional finance entries in the country.

Mirae Asset Strengthens Digital Asset Strategy with Korbit Deal

Mirae Asset Financial Group confirmed the acquisition through its affiliate Mirae Asset Consulting. The company revealed plans to buy 26.91 million Korbit shares. The purchase price was fixed at 133.5 billion won or about $92.27 million.

Related Reading: Cypto News: South Korea FIU Fines Korbit $1.9 Million Over AML Violations| Live Bitcoin News

After the completion, Mirae Asset Consulting will hold 92.06% of Korbit’s equity. This stake makes Mirae Asset Korbit’s majority shareholder. The disclosure was submitted to the South Korean regulatory system known as the disclosure and authorization to trade (DART).

Regulatory rules influenced the structure of the acquisition, according to company disclosures. Authorities generally limit financial institutions from directly owning a business in the space of virtual assets. Therefore, Mirae Asset utilized its non-financial affiliate for the execution of the purchase.

The shares are apparently from former major investors NXC and SK Planet. SK Planet separately revealed that it will sell 9.22 million shares. The amount of transactions was reported as 45.7 billion won. The firm gave reasons such as tag-along rights and investment recovery.

Mirae Asset said that the acquisition was aimed at future growth engines. The strategy is opportunity that is linked to digital assets. Executives have emphasised integration between traditional finance and blockchain-based markets. The deal represents the group’s larger “Mirae Asset 3.0” roadmap.

Korbit Acquisition Signals Rising Institutional Crypto Focus

Industry observers see the Korbit purchase as a long-term infrastructure investment. They say institutional crypto adoption needs trusted and regulated platforms. For this reason, established financial groups continue to dip a toe into the digital asset value chain. This trend has accelerated in Asia and Europe.

Korbit is South Korea’s largest exchange according to the trading activity being reported. Currently, it lags behind market leaders Upbit and Bithumb. However, analysts anticipate more intense competition after Mirae Asset’s capital backing. Governance changes may also affect Korbit’s positioning in the market.

The acquisition may have an impact on the developing South Korea security token offerings landscape. Market participants are looking for clearer rules for tokenized securities and funds. Besides, institutions are looking for compliant trading, custody and staking solutions.

Mirae Asset has been continuously growing its digital initiatives in brokerage and asset management. The Korbit stake provides access to the crypto trade operation directly. It also adds capabilities of custody and staking services. These segments continue to lie at the heart of institutional crypto participation.

Company filings provided the transaction metrics and the end ownership. Still, there were several financial terms that were not made public. However, regulatory clarity will determine long-term results. Market stability and investor protection are also deciding factors.

Nevertheless, the level of institutional participation is still increasing due to improvements in infrastructure and compliance standards. Increasingly, large financial groups look to make acquisitions and partnerships. The transaction by Korbit is indicative of how Asia’s financial leaders are positioning themselves. It is a positive sign for regulated digital asset platforms.

The post Mirae Asset Acquires Controlling Stake in Korbit Crypto Exchange appeared first on Live Bitcoin News.