Mirae Asset Takes Control of Korbit with $7.9 Million Stake Increase

Mirae Asset Consulting has completed its acquisition of Korbit, a South Korean cryptocurrency exchange. The deal marks the first time a traditional financial group in Korea has acquired a crypto exchange. Mirae Asset plans to increase its stake from 92.06% to 97.15% by purchasing more shares worth about $7.9 million.

The acquisition was approved by the Korea Fair Trade Commission, which characterized it as the first of its kind in South Korea. Korbit's operating entity, user deposits, and personal data policy will remain unchanged. The exchange's trading volume is significant, with a 24-hour trading volume of about $4.3 million.

Mirae Asset aims to secure future growth drivers based on digital assets through this acquisition.