Mirae Asset Takes Majority Stake in Korbit, South Korea's First Crypto Exchange Acquisition

Mirae Asset Financial Group has acquired Korbit, South Korea's first digital asset exchange to be taken over by a financial group.

The move signals regulators' growing willingness to allow traditional financial groups to expand into digital assets.

The Fair Trade Commission approved Mirae Asset Consulting's acquisition of a 92.06 percent stake in Korbit, with the unit overseeing its hotel and golf course businesses.

The approval comes as Korean authorities reassess strict regulatory barriers that have long separated traditional financial institutions from the digital asset industry.

Local brokerages and banks have been moving to secure stakes in crypto exchanges, betting on the sector's future growth.