Mirae Asset in Talks to Acquire Korbit for 70-100M USD

Mirae Asset Financial Group, a major South Korean financial conglomerate, is in advanced talks to acquire Korbit, the country's fourth-largest cryptocurrency exchange, in a potential deal valued at 100 billion to 140 billion Korean won, or about 70 million to 100 million U.S. dollars. The negotiations, reported on Monday, involve Mirae Asset Consulting, a nonfinancial affiliate of the group, and aim to purchase a combined 92 percent stake from Korbit's primary shareholders.

The discussions center on acquiring 60.5 percent of Korbit held by NXC, the holding company of gaming firm Nexon, and its subsidiary Simple Capital Futures, along with a 31.5 percent stake owned by SK Square. Mirae Asset Consulting has signed a memorandum of understanding with these shareholders to advance the process, though no final agreement has been confirmed and terms remain subject to due diligence and potential changes.

Korbit, which launched in 2013 as one of South Korea's pioneering crypto platforms, operates with full regulatory compliance, including banking ties and robust controls that align with the nation's strict oversight of digital assets. Despite this, the exchange holds a modest position in...