From Crypto Startup to Financial Giant: Bithumb Joins Mirae Group’s Global Network

Korbit, South Korea’s first cryptocurrency exchange, has become part of the Mirae Asset Group family, marking a milestone as the first time a major traditional Korean financial group affiliate has gained control of a local crypto exchange.

Founded in 2013, Korbit was the first locally developed crypto trading platform in South Korea and has now come under the ownership of Mirae Asset Group, one of the country’s largest financial institutions.

The exchange announced Thursday that it has joined the Mirae Asset ecosystem, with the financial group reportedly overseeing approximately $1 trillion in assets under management as of May.

The acquisition was completed by Mirae Asset Consulting, a subsidiary of Mirae Asset Group, which purchased Korbit shares through official regulatory reporting procedures and became the exchange’s largest shareholder. Korbit clarified that the company operating the platform, Korbit Co., Ltd., will continue its business operations without any changes.

Mirae Asset Consulting, which also manages parts of the group’s hospitality and leisure businesses, including hotels and golf facilities, reportedly now owns a 97.15% stake in Korbit.

The exchange said users should not expect any immediate changes following the ownership transition. All major services, including account access, cryptocurrency trading, deposits, and withdrawals, will continue as usual. User funds and digital assets will remain separated from company assets under South Korea’s Act on the Protection of Virtual Asset Users. Korbit also confirmed that its personal data management practices will remain the same.

The acquisition highlights the growing involvement of traditional financial firms in the cryptocurrency sector as they look to expand their digital asset strategies. In South Korea, where retail crypto trading activity often rivals equity market participation, ownership of a regulated exchange has become an important strategic advantage.

The move follows a wider trend across Asia, where financial groups are increasing their exposure to crypto businesses. Japan’s SBI Group, for example, has pursued expansion in the sector through plans to acquire Tokyo-based crypto exchange Bitbank for $289 million and obtain a majority stake in Singapore-based Coinhako.

Korbit’s integration into Mirae Asset Group reflects the accelerating convergence between traditional finance and digital assets, as major institutions seek a larger role in the evolving crypto economy.