Mirae Asset Completes Korbit Acquisition, Marking South Korea’s Biggest TradFi Move Into Crypto

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Mirae Asset Consulting has completed the acquisition of a controlling stake in South Korean cryptocurrency exchange Korbit, marking a major milestone in the country’s digital asset industry. The transaction makes Mirae Asset the first major South Korean financial group to control a domestic cryptocurrency exchange, highlighting the growing convergence between traditional finance and blockchain-based financial services.

Translated from the original Korean into English for readers’ convenience

The acquisition received approval from South Korea’s Fair Trade Commission (FTC) on July 9, clearing the way for the transaction to proceed. Mirae Asset Consulting acquired a 91.73% stake in Korbit on July 22 and plans to purchase an additional 5.42% stake on July 24, bringing its total ownership to approximately 97.15%. The total investment is expected to reach around 141.4 billion won (approximately $100 million), giving the financial group near-complete control of one of South Korea’s oldest cryptocurrency exchanges.

Founded in 2013, Korbit is one of South Korea’s licensed Korean won-based virtual asset exchanges. The acquisition reflects the growing interest of established financial groups in entering regulated digital asset markets through strategic acquisitions rather than building new platforms from the ground up. In late May 2026, OKX Ventures agreed to acquire a 19.6% stake in Coinone for $53 million, marking a major investment in South Korea’s crypto market.

Mirae Asset Expands Beyond Crypto Trading With Digital X Strategy

Alongside the acquisition, Mirae Asset is positioning Korbit for a new phase under the Digital X name. Mirae Asset Group Chairman Park Hyeon-joo said Korbit would make a fresh start as Digital X, aligning the platform with the group’s broader “Mirae Asset 3.0” vision. The strategy aims to connect traditional finance with digital assets, artificial intelligence, blockchain infrastructure, and tokenized financial products.

Digital X is expected to move beyond conventional cryptocurrency trading and explore a broader digital finance ecosystem. Its potential focus areas include real-world asset (RWA) tokenization, security token offerings (STOs), stablecoin infrastructure, and institutional digital asset services. The strategy comes as South Korea works to establish clearer rules for digital assets and expand the integration of blockchain technology into the country’s financial system.

• Acquirer: Mirae Asset Consulting
• Target: Korbit cryptocurrency exchange
• Current controlling stake: 91.73%
• Planned final ownership: Approximately 97.15%
• Total investment: Around 141.4 billion won (approximately $100 million)
• Regulatory approval: South Korea’s Fair Trade Commission (FTC)
• Industry milestone: First acquisition of a domestic cryptocurrency exchange by an affiliate of a major South Korean financial group
• Exchange founded: 2013
• Future strategy: RWA tokenization, STOs, stablecoins, and institutional digital asset services

In February 2026, Mirae Asset agreed to acquire 92.06% of Korbit for $92 million, marking its entry into South Korea’s crypto market. The acquisition was completed in July 2026, with plans to rebrand Korbit as Digital X.

Why the Korbit Acquisition Matters for South Korea’s Digital Asset Industry

Despite the change in ownership, Korbit’s existing operations will continue without interruption. The company that operates the exchange will remain unchanged, while users will continue to have access to existing services, including trading, logins, deposits, and withdrawals. Customer deposits and virtual assets will continue to be managed separately from company assets in accordance with South Korea’s Virtual Asset User Protection Act. Korbit also said that its existing personal information handling policies will remain unchanged.

The transaction also carries broader regulatory significance. The FTC described the deal as the first acquisition of a cryptocurrency exchange by an affiliate of a financial group. The approval highlights the evolving relationship between South Korea’s traditional financial sector and its regulated virtual asset industry, while also reflecting ongoing discussions over the separation between financial institutions and cryptocurrency businesses.

Mirae Asset’s strategy extends beyond simply owning a cryptocurrency exchange. By combining Korbit’s existing regulated digital asset infrastructure with its investment and financial expertise, the group aims to build a wider platform connecting traditional financial products with blockchain-based services.

The Digital X strategy could therefore place greater emphasis on emerging areas such as tokenized real-world assets, security tokens, stablecoins, and institutional blockchain infrastructure. If these markets continue to develop under clearer regulatory frameworks, Korbit’s existing exchange infrastructure could provide Mirae Asset with a foundation for expanding its presence across South Korea’s digital finance ecosystem.

The acquisition represents a broader shift in South Korea’s financial landscape, where traditional financial groups are increasingly seeking regulated entry points into the digital asset market. Mirae Asset’s move to take near-complete control of Korbit suggests that digital assets are becoming an increasingly integrated part of mainstream financial strategy.

As regulatory clarity improves and tokenized financial products gain wider adoption, the transition from Korbit toward the Digital X strategy could become an important test of how traditional financial groups integrate cryptocurrency infrastructure with broader digital finance services. The deal also reinforces South Korea’s ambitions to develop a more established and regulated digital asset industry.