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

According to Odaily Planet Daily, Mirae Asset Group is 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 report states that the potential acquisition will 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 owned by NXC and its subsidiary Simple Capital Futures, with SK Square holding approximately 31.5% of the shares. 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 to enter the digital asset field in a compliant manner.

However, in terms of market share, Korbit's presence in the South Korean cryptocurrency trading market is limited. 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 hold significant advantages. 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)