Mirae Asset Group in Talks to Acquire Korbit Exchange Valued at $70M to $100M
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Acquisition Talks Initiated: Mirae Asset Group is in discussions to acquire Korbit, valuing the exchange between 100 billion and 140 billion Korean won, or approximately $70 million to $100 million, which would significantly enhance its presence in the digital asset market if successful.
- Strategic Cooperation Intent: Mirae Asset Consulting has signed a memorandum of understanding with Korbit's major shareholders, indicating serious intent at an early stage of negotiations, although the deal has not yet reached a final stage, highlighting the importance of compliance in South Korea's regulatory environment.
- Market Share Challenges: Despite Korbit's full operating license and robust compliance system, its market share remains small, handling only $5.75 million in daily trading, which is less than 1% of the total daily trading volume across six Korean exchanges, posing challenges for Mirae Asset's investment returns.
- Industry Consolidation Trend: The acquisition talks reflect a broader trend of major financial groups seeking structured and regulated entry into crypto markets, especially against the backdrop of Naver Financial's plan to acquire Dunamu, the operator of Upbit, for about $10.3 billion, accelerating market consolidation.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
