South Korea’s 4th Largest Crypto Exchange, Korbit, Emerges as Prime Takeover Target for Major Asset Group

Another day, another consolidation play in the crypto wild west—this time in one of Asia's most regulated markets.

Korbit, the fourth-largest digital asset exchange in South Korea, is reportedly in the crosshairs of a major asset management group. The move signals a growing trend of traditional finance giants looking to buy, not build, their way into the crypto ecosystem.

The Allure of a Ready-Made Platform

Why start from scratch? Acquiring an established player like Korbit offers instant access to a licensed platform, an existing user base, and hard-won regulatory compliance. In a market like South Korea—where the Financial Services Commission (FSA) keeps a notoriously tight leash—that operational license is pure gold. It's the financial equivalent of cutting the line.

Consolidation is the New Competition

This isn't about a startup getting a cash infusion. It's a strategic land grab by institutional capital. As crypto matures from a niche asset to a mainstream financial pillar, the big money is moving in. They're not coming to play nice with the natives; they're coming to own the infrastructure. Expect more 'acqui-hires' of compliant exchanges as legacy finance tries to fast-track its crypto credibility—often with all the subtlety of a bull in a digital china shop.

The race isn't just about innovation anymore; it's about who controls the gates. And sometimes, the quickest path to dominance is to simply buy the gatekeeper.

Mirae Asset Signs MOU With Major Shareholders

Sources say the agreement covers most of the stakes held by NXC and SK Planet, which together control the firm. Korbit’s ownership is reported at about 60.5% for NXC (the Nexon holding company) and 31.5% for SK Planet, with Mirae Asset negotiating to buy those shares.

Korbit’s Position In South Korea’s Market

Korbit is described as the fourth-largest exchange in South Korea, but its trading volume is small compared with the market leaders. Reports put its market share under 1%, while Upbit and Bithumb continue to handle the bulk of local trading.

According to The Chosun Daily, Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest crypto exchange. Mirae Asset Consulting has signed an MOU with major shareholders. Korbit is currently ~60.5% owned by NXC and subsidiaries, with SK Square holding ~31.5%.…

— Wu Blockchain (@WuBlockchain) December 28, 2025

Based on reports, Mirae Asset sees two practical advantages: first, buying an existing, licensed operator gives faster access to regulated crypto business lines.

Second, using a non-financial affiliate helps the group navigate rules that restrict direct involvement by banks and insurers in VIRTUAL asset trading.

Industry observers have flagged that a licensed exchange — even a small one — can be valuable to a large financial house aiming to offer custody or trading services under local rules.

Regulators are expected to review any final deal, and no confirmation has been issued by either Mirae Asset or Korbit as of reporting.

MIRAE ASSET IN TALKS TO ACQUIRE KOREA’S crypto exchange KORBIT FOR $100 MILLION

Mirae Asset is reportedly negotiating a $100 million acquisition of South Korean cryptocurrency exchange Korbit, signaling continued interest from major financial institutions in expanding their… pic.twitter.com/RlZbeLIS05

— Crypto Town Hall (@Crypto_TownHall) December 29, 2025

Antitrust checks, banking relationship transfers, and compliance reviews WOULD be part of the close if negotiations move forward. Market participants say that until formal filings are made, talks should be treated as preliminary.

If the purchase completes, a major financial player would own a licensed exchange — a MOVE that might encourage other traditional firms to consider similar deals.

For Korbit, new ownership could mean an influx of capital and a push to rebuild competitive footing. For users, the change could bring stronger compliance and perhaps new product offerings, but it would be unlikely to shift the overall market share picture quickly given the dominance of the top two exchanges.

Featured image from Unsplash, chart from TradingView