Overview
- Mirae Asset Consulting completed its acquisition of Korbit and has become the exchange’s largest shareholder with plans to hold about 97.15% of shares.
- Korbit said the change in ownership will not interrupt login, trading, deposits or withdrawals and that the operating company, Korbit Co., Ltd., remains in place.
- Customer deposits and virtual assets will continue to be held separately from company assets under South Korea’s Virtual Asset User Protection Act and Korbit will remain the controller of users’ personal data.
- South Korea’s Fair Trade Commission approved the deal and noted this is the first time an affiliate of a traditional Korean financial group has taken control of a domestic crypto exchange.
- The purchase fits a broader wave of institutional investment in licensed Korean exchanges and could let Mirae use regulated infrastructure for custody, tokenization and stablecoin services while increasing competition with larger platforms.