Korbit

Mirae Asset

2026-07-23 08:20:47

Mirae Asset completes Korbit acquisition and plans to lift stake to 97.15%

Mirae Asset Financial Group has completed its acquisition of South Korean crypto exchange Korbit, with Mirae Asset Consulting taking control of the platform after clearing regulatory procedures. Korbit said the transaction makes Mirae Asset Consulting its largest shareholder. The group has also filed updated regulatory documents to buy more shares for $5.32 million, which would raise its ownership from 92.06% to 97.15%, with settlement expected on Friday. Korbit told users the ownership change will not disrupt core services, including logins, trading, and fiat or crypto deposits and withdrawals. The exchange also said customer funds and virtual assets will continue to be kept separate from company assets under South Korea’s Virtual Asset User Protection Act, and personal data handling will remain unchanged. South Korea’s Fair Trade Commission earlier described the deal as the country’s first case of an affiliate of a traditional financial group acquiring a crypto exchange. CoinGecko data cited in the report shows Korbit ranks fourth among South Korean crypto exchanges, with about $4.3 million in 24-hour trading volume, compared with Upbit’s $224 million over the same period.

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Nexon

2026-07-22 18:40:13

Nexon's Parent NXC Exits Crypto: Sells Bitstamp Stake, Korbit Stake, BTC Holdings Drop to 2,356

NXC's 2025 financials reveal a 15.2% decline in crypto assets. It sold Bitstamp equity and decided to offload Korbit shares. The group also acquired a European industrial B2B firm, signaling a strategic pivot away from crypto.

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South Korea

2026-07-22 02:16:56

Daily trading volume at South Korea’s five KRW crypto exchanges falls 88% from a year earlier

Daily trading volume across South Korea’s five won-denominated virtual asset exchanges has dropped to about 412.7 billion won, down 88% from a year earlier, according to a report by JoongAng Ilbo cited by ChainCatcher. The downturn has come alongside a 41% contraction in total global crypto market capitalization to $2.322 trillion. The slump has hit exchange operators across the board. Dunamu, the country’s leading crypto industry player, reported first-quarter revenue and operating profit declines of 55% and 78% year over year. Smaller exchanges are under sharper pressure: Coinone, Korbit, and Gopax, which already posted operating losses last year, are expected to remain in the red this year. Korbit has sold parts of its holdings three times this year. Within 10 days this month, it sold 15 BTC and 60 ETH, bringing in about 1.6 billion won in cash. A director at Tiger Research described current conditions as a “second crypto winter,” citing the sharp drop in total crypto market value and the near absence of new projects. Even so, institutional adoption of blockchain in South Korea is moving ahead, with tokenized assets and stablecoins at the center. Large securities firms including Mirae Asset have recently acquired stakes in exchanges, while the government has repeatedly signaled its intent to push forward legislation for the Digital Asset Basic Act.

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South Korea

2026-07-22 02:15:00

Daily trading volume at South Korea’s five largest crypto exchanges falls 88%, Korbit sells holdings for cash

Daily trading volume across South Korea’s five largest won-based virtual asset exchanges has dropped to about 412.7 billion won, down 88% from a year earlier, according to JoongAng Ilbo. The decline has come alongside a 41% contraction in the global crypto market, which now stands at $2.322 trillion. The downturn is also hitting company earnings: Dunamu, the country’s leading crypto firm, reported first-quarter revenue down 55% year over year and operating profit down 78%. Smaller exchanges are under even more pressure. Coinone, Korbit and Gopax, all of which posted operating losses last year, are expected to remain in the red this year. Korbit has already sold assets three times this year. Within a 10-day span this month, it sold 15 BTC and 60 ETH, raising about 1.6 billion won in cash. Tiger Research described the current market as a “second crypto winter,” citing the sharp drop in total market capitalization and the lack of new projects. Even so, institutional adoption of blockchain is accelerating in South Korea, with tokenized assets and stablecoins emerging as the main focus. Large securities firms including Mirae Asset have recently acquired stakes in exchanges, while the government has repeatedly signaled its intention to advance the Digital Asset Basic Act.

1370

South Korea

2026-07-17 11:53:37

Korea antitrust regulator clears Mirae Asset deal for controlling stake in Korbit

South Korea’s Fair Trade Commission has approved Mirae Asset Group’s acquisition of a 92.06% stake in cryptocurrency exchange Korbit, clearing what Techub, citing The Korea Herald, described as the first case of a Korean financial group taking control of a digital asset exchange. The approval sets a precedent for a financial group to fully run a crypto trading platform in the country. Earlier, Financial Services Commission Chairman Lee Eok-won had said changes in the regulatory framework needed to be assessed in a comprehensive way. The deal also stands apart from cases in which conglomerates such as Samsung only held minority stakes. Market attention is now turning to the progress of the proposed Naver-Dunamu merger.

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