Mirae Asset Buys 92% Stake in Korbit for $93M

For almost $93 million in cash, Mirae Asset Consulting has agreed to purchase a 92.06% controlling interest in the South Korean cryptocurrency exchange Korbit. According to a regulatory filing, the transaction entails the purchase of 26.9 million shares.

Through digital asset enterprises, the acquisition seeks to assure future growth. With 8.7 billion won in revenue and 9.8 billion won in net profit for its most recent fiscal year, Korbit has lately generated a profit again. The exchange is a desirable entry point for conventional financial firms because it has a complete operating licence.

Despite being smaller than well-known Korean exchanges like Upbit and Bithumb, Korbit’s acquisition shows that more institutions are becoming interested in regulated cryptocurrency platforms. Once the terms of the contract are fulfilled, the transaction is anticipated to close.

Mirae’s move highlights how established financial groups are positioning themselves within the digital asset space as adoption continues to expand.

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