Korbit May Find New Owner as Mirae Asset Explores $70M–$100M Deal

What Is Mirae Asset Negotiating?

Mirae Asset Group is in discussions to acquire Korbit, South Korea’s fourth-largest cryptocurrency platform, in a transaction valued between 100 billion and 140 billion Korean won, or roughly $70 million to $100 million. The talks are being led by Mirae Asset Consulting, a non-financial affiliate of the group, according to a report by The Chosun Daily.

The report said Mirae Asset Consulting has signed a memorandum of understanding with Korbit’s major shareholders, signaling that negotiations have moved beyond ahead-stage discussions. Korbit is primarily owned by NXC and its subsidiary Simple Capital Futures, which together control about 60.5% of the platform. SK Square holds an additional 31.5% stake.

While no binding agreement has been announced, the potential deal would give Mirae Asset a direct foothold in South Korea’s at a time when large financial groups are moving rapidly to secure compliant digital-asset infrastructure.

Investor Takeaway

Why Would Korbit Appeal to a Major Financial Group?

Korbit’s market share is modest, but its regulatory status is not. The platform holds a full operating license and established compliance framework, making it a ready-made entry point for financial groups viewking without begining from scratch.

According to CoinGecko data, Korbit accounts for a small fraction of South Korea’s . Of roughly $1.21 billion in total daily volume across six Korean platforms, Korbit handled about $5.75 million, well under 1% of the total. By comparison, Upbit dominates with more than $768 million in daily volume, followed by Bithumb at nahead $298 million and Coinone at around $135 million.

Despite that gap, regulated market access matters more than raw volume for . South Korea’s rules for crypto platforms are among the strictest globally, covering custody, reporting, and banking relationships. Acquiring an existing platform can shorten the timeline to launch new products tied to digital assets.

How Does This Fit Into a Broader M&A Trend?

The Korbit talks arrive amid a wave of consolidation and strategic positioning in South Korea’s crypto sector. Earlier reports revealed that Naver Financial plans to acquire Dunamu, the operator of Upbit, in a stock-swap transaction valued at about 15.1 trillion won, or $10.3 billion.

Under that proposal, Naver Financial would issue 87.56 million new shares to Dunamu shareholders, making Dunamu a wholly owned subsidiary. Shareholders of both companies are scheduled to vote on the transaction on May 22, 2026, with the share platform planned for June 30, pending regulatory approval.

When the Dunamu deal was first disclosed, reports said Naver Financial intended to pursue a Korean won-backed stablecoin project and other digital finance initiatives later than the acquisition. Together with Mirae Asset’s interest in Korbit, the moves suggest that Korea’s largest financial and technology groups view crypto platforms as core infrastructure rather than peripheral businesses.

Investor Takeaway

What Could This Mean for Korea’s Crypto Market?

If Mirae Asset proceeds with a Korbit acquisition, it would reinforce a shift toward institutional ownership of crypto venues in South Korea. That could bring tighter integration with traditional finance, stronger governance standards, and closer regulatory oversight.

At the identical time, consolidation may widen the gap between dominant platforms and smaller platforms. Upbit already controls the bulk of trading activity, and further concentration under large financial groups could make market entry more hard for independent operators.

For policymakers, the trend presents both reassurance and pressure. Large financial owners bring compliance experience and capital, but their growing influence also raises questions about competition and systemic risk in a market that increasingly overlaps with mainstream finance.

For now, the Korbit talks remain non-binding. But taken alongside Naver’s pursuit of Dunamu, they point to a clear direction: is moving into a phase where ownership, regulation, and traditional finance are becoming deeply intertwined.