Mirae Asset Group plans to acquire South Korean cryptocurrency exchange Korbit for approximately US$100 million.

Mirae Asset Group is reportedly in talks to acquire Korbit, South Korea's fourth-largest cryptocurrency exchange, at a valuation of approximately 100 billion to 140 billion won, or about $70 million to $100 million. The potential acquisition will reportedly be led by Mirae Asset Consulting, a non-financial subsidiary of Mirae Asset Group, which has already signed a memorandum of understanding with Korbit's major shareholders. Public information shows that Korbit is currently held by NXC and its subsidiary Simple Capital Futures, which together own approximately 60.5% of the shares, while SK Square holds approximately 31.5%. The report points out that Korbit possesses a complete set of operating licenses and a compliance system, making it attractive to large financial groups seeking a compliant entry into the digital asset market. However, in terms of market share, Korbit has a limited presence in the South Korean cryptocurrency exchange market. CoinGecko data shows that of the approximately $1.21 billion in total 24-hour trading volume across South Korea's six major exchanges, Korbit contributed only about $5.75 million, accounting for less than 1%. In contrast, Upbit, Bithumb, and Coinone each hold a clear advantage. Previous reports indicated that Naver Financial also planned to acquire Upbit's operator, Dunamu, through a share swap, demonstrating that South Korean traditional financial and technology giants are continuously increasing their investment in the cryptocurrency sector. (Cointelegraph)