Korbit joins Mirae Asset Group, now holds 97.15% stake

Korbit, South Korea's first crypto exchange founded in 2013, is now part of Mirae Asset Group, which has an AUM of 1 trillion dollars as of May. The acquisition was made by Mirae Asset Consulting, an affiliate of Mirae Asset Group, which has become the largest shareholder of Korbit. There are no changes to Korbit Co., Ltd., the operating corporation. The acquisition does not disrupt services for users, as login, trading, deposits, and withdrawals will continue uninterrupted. User deposits and virtual assets will remain separate from company assets, in line with South Korea's Act on the Protection of Virtual Asset Users. Personal data processing remains unchanged. This acquisition reflects a trend of traditional finance players expanding into the crypto space, particularly in South Korea where retail crypto trading volumes are significant. Similar trends are observed in Asia, with SBI Group acquiring Bitbank for 289 million dollars and a majority stake in Coinhako.

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