South Korean financial group Mirae Asset eyes crypto exchange Korbit acquisition: report
Mirae Asset is reportedly in talks to acquire a 92% stake in South Korean crypto exchange Korbit for up to 140 billion won.Summary
Seoul-based financial giant Mirae Asset is reportedly considering the acquisition of the South Korean cryptocurrency exchange Korbit, according to a report citing industry officials. Mirae Asset is in discussions to purchase a 92% stake in Korbit for as much as 140 billion won (approximately $97 million). This move would mark the first foray into cryptocurrency-related business for Mirae Asset, which is a major player in traditional finance, offering services like asset management, wealth management, investment banking, and insurance. The acquisition aligns with Mirae founder Park Hyeon-joo's emphasis on exploring opportunities that connect traditional and digital assets. Korbit is currently the fourth-largest crypto exchange in South Korea by trading volume, significantly trailing leaders like Upbit and Bithumb.
(Source：CoinDesk)