South Korea's fourth cryptocurrency exchange... Discussions to secure stakes led by non-financial affiliates
);)
This acquisition was led by Mirae Asset Consulting, a non-financial affiliate of Mirae Asset Group, and reportedly signed a memorandum of understanding with major shareholders of Korbit. Korbit is currently owned by NXC and its subsidiary Simple Capital Futures, with SK Square holding an additional 31.5%.
Korbit, an exchange with full business licensing and regulatory compliance infrastructure, is considered a low-institutional risk asset for financial groups entering the cryptocurrency industry. However, its presence is limited in terms of trading volume. According to CoinGecko, Korbit's trading volume was approximately $5.75 million, less than 1% of the total 247-hour trading volume of approximately $1.2 billion (10 million USD) on the six major cryptocurrency exchanges in Korea.
During the same period, Upbit led the market with a daily trading volume of approximately $768 million, followed by Bithumb and Coinone. Industry insiders interpret the acquisition of Korbit as a strategic investment focused on securing licenses and regulatory frameworks rather than trading volume.
Meanwhile, discussions about a major merger and acquisition are ongoing across the Korean cryptocurrency industry. Cointelegraph previously reported in December that Naver Financial was pursuing a stock swap to acquire Dunamu. The deal's finality is subject to regulatory approval.
Mirae Asset's recent acquisition negotiations for Korbit are seen as a case in point, demonstrating that a major domestic financial group is taking a full-fledged strategic approach to the cryptocurrency industry.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
