Mirae Asset Wins FTC Approval for Korbit Acquisition

Mirae Asset Financial Group has secured regulatory approval from South Korea’s antitrust watchdog for its acquisition of a controlling stake in cryptocurrency exchange Korbit, the company announced Thursday. The deal, valued at 133.5 billion won ($88.8 million), marks the first time a domestic financial group has acquired a crypto exchange.

The Fair Trade Commission (FTC) gave the green light after concluding that the transaction would not significantly reduce competition in South Korea’s crypto trading market. Korbit holds only a 0.5% share of trading volume, far behind leader Upbit (69%) and Bithumb (28%). The FTC noted that retail investors prioritize liquidity over fees, so Korbit’s limited liquidity made the acquisition unlikely to harm competition.

Despite Korbit’s small market share, Mirae Asset views the deal as a strategic entry point into digital assets. The group plans to integrate its securities and asset management expertise with Korbit’s infrastructure to blur the lines between traditional and digital finance. Future plans include stablecoins, custody, real-world asset tokenization, and digital payment services.

Mirae Asset also aims to expand institutional services as South Korea gradually opens its digital asset market to institutions. Korbit will serve as a global expansion platform, offering research, custody, and operational support to clients. The group seeks to build a unified ecosystem for domestic and international investors to access both traditional and digital assets.

A Mirae Asset official stated that digital assets have evolved into a new global asset class. By combining Korbit’s trading infrastructure with Mirae Asset’s risk management and investor protection strengths, the group aims to set a new standard for the industry and contribute to a more trusted Korean digital asset ecosystem.