South Korean financial conglomerate Mirae Asset Financial Group has completed the acquisition of cryptocurrency exchange Korbit in a deal valued at 133.5 billion Korean won (approximately $92.27 million). The acquisition, led by Mirae Asset Consulting the group’s non-financial consulting subsidiary involves the purchase of 26.91 million shares, giving the financial giant a commanding 92.06% stake in the exchange.
The shares were primarily acquired from Korbit’s existing major shareholders, including NXC Corporation, the holding company of gaming giant Nexon, and SK Square, a spinoff from SK Telecom. In a related disclosure, SK Planet confirmed it sold 9.22 million shares of Korbit for 45.7 billion won (approximately $31.6 million), exercising tag-along rights under its shareholders’ agreement to recover its investment.
The Road to Acquisition
The deal had been in the making since late December 2025, when reports first emerged that Mirae Asset was in talks to acquire a controlling stake in Korbit. At that stage, the estimated transaction value ranged between 100 billion won and 140 billion won ($70 million to $100 million). Mirae Asset Consulting had signed a memorandum of understanding with Korbit’s major shareholders to initiate the process.
Mirae Asset Consulting stated that the purpose of the acquisition is “to secure future growth engines based on digital assets”. The move aligns with the group’s “Mirae Asset 3.0” strategy, which seeks to integrate digital assets into its traditional financial services ecosystem. The group plans to organically link its global mobile trading systems with virtual asset trading platforms to expand its financial ecosystem.
Korbit’s Fundraising History
Korbit has raised a total of $170.67 million across four funding rounds since its founding, cementing its position as one of the most well-funded crypto platforms in South Korea.
| Round | Date | Amount Raised | Lead Investors | Key Participants |
|---|---|---|---|---|
| Seed | January 20, 2014 | $400,000 | – | Digital Currency Group, Tim Draper, Naval Ravikant, David Lee, Pietro Dova, Barry Silbert |
| Series A | August 26, 2014 | $3.00 million | Pantera Capital, SoftBank | Digital Currency Group, Strong Ventures, BAM Ventures, Tim Draper |
| Undisclosed | November 29, 2021 | $75.00 million | SK Telecom | – |
| M&A | February 13, 2026 | $92.27 million | Mirae Asset Global Investments | – |
The exchange’s early seed round in January 2014 attracted prominent angel investors including Tim Draper and Naval Ravikant. Just seven months later, Korbit closed a $3 million Series A round led by Pantera Capital and SoftBank, with participation from Digital Currency Group, Strong Ventures, and BAM Ventures. In November 2021, SK Telecom’s spinoff SK Square injected $75 million into Korbit, acquiring a significant minority stake. The latest M&A transaction by Mirae Asset represents the largest single investment in Korbit’s history.
About Korbit
Founded in 2013 and headquartered in Seoul, Korbit holds the distinction of being South Korea’s first Bitcoin exchange. It launched the world’s first BTC/KRW fair trading service in April 2013 and has since expanded to support multiple cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and others.
The exchange is classified as a centralized finance (CeFi) platform and is currently the fourth-largest cryptocurrency exchange in South Korea by trading volume. In the last 24 hours prior to the deal announcement, Korbit facilitated approximately $95 million in trades. The platform holds a full operating license in South Korea’s highly regulated crypto landscape and maintains robust compliance infrastructure, including ISO 27001 certification achieved in 2018.
Korbit is also known for launching South Korea’s first NFT marketplace in May 2021, further showcasing its history of industry firsts.
About Mirae Asset
Mirae Asset Financial Group is one of the largest financial services conglomerates in South Korea and across Asia. As of September 2025, the group reported assets under management exceeding 1,000 trillion won (equivalent to approximately $721 billion). The company manages over $342 billion in assets globally and operates one of the world’s largest ETF platforms with more than $200 billion under management.
The group’s services span asset management, wealth management, investment banking, and insurance. Founded in the late 1990s, Mirae Asset has built its reputation through aggressive expansion via strategic acquisitions across multiple countries.
Strategic Significance
The acquisition signals a deepening convergence of traditional finance and digital assets in South Korea. By acquiring a licensed and regulated crypto exchange, Mirae Asset positions itself strategically in both retail and institutional digital asset transactions.
South Korea is preparing for the imminent launch of tokenized securities following recent legislative approvals. Owning Korbit provides Mirae Asset with a practical platform to expand into token issuance, custody, and trading of tokenized financial instruments services that are expected to become increasingly critical as regulatory frameworks for digital securities evolve.
The deal also reflects a broader trend of consolidation between conventional finance and cryptocurrency in South Korea. The transaction is subject to regulatory approval, and market observers are closely watching whether this move will catalyze further M&A activity in the country’s crypto sector.
