Mirae Asset Explores Buying Korean Crypto Exchange Korbit

Mirae Asset Group, a South Korean multinational financial services company, is exploring a potential purchase of Korbit, Korea’s oldest crypto exchange, according to a report by The Chosun Daily.

Sources say that a memorandum of understanding (MOU) has been signed between Mirae Asset Consulting and Korbit’s major shareholders. Korbit is currently 60.5% owned by NXC, the gaming company behind Nexon, and 31.5% owned by SK Square.

The purchase, if it goes ahead, would come to around $70 million to $100 million. Korbit was founded in 2013 and is Korea’s fourth-largest crypto exchange.

Why Would Mirae Asset Want to Buy a Crypto Exchange?

Despite having a much smaller market share than other larger crypto exchanges in Korea such as Upbit and Bithumb, Korbit has a full operating licence and is available for acquisition. This makes it attractive for traditional finance firms who are looking to enter into the crypto space, without applying for their own new licence.

South Korea’s laws for crypto exchanges are among the most rigorous in the world, with exchanges soon expected to follow the same rules as banks. It would be easier for Mirae to acquire an existing licence than starting a new one. 

Mirae Asset Group may also believe that they can grow Korbit’s market share using their capital and traditional finance customer base.

Merger & Acquisition Movement Across South Korean Crypto Exchanges

Recently, there has been a move by traditional finance companies looking to purchase South Korean crypto exchanges.

Upbit, Korea’s largest exchange, is currently in talks with Naver Financial over a takeover that would go ahead in 2026. 

Bybit was also reportedly interested in buying Korbit in November 2025, however no further news materialised. Mirae Asset may be a better fit as they are also headquartered in South Korea whereas Bybit is mainly a Dubai based crypto exchange. 

Best Korean Wallets

While traditional institutions are in talks to buy Korean crypto exchanges, that doesn’t mean that they come entirely without risk. Upbit exchange has been hacked twice in 6 years, most recently in November, reporting a loss of $30 million in Solana tokens.

Korbit also experienced a 12 hour outage in June, during which services were suspended, prompting an investigation by the Korean Financial Supervisory Service. 

That’s why many investors prefer to keep control of their crypto in their own self-custody wallet. This way they don’t need to worry about potential hacks or outages, they have full access to their private keys and their crypto.

One wallet with full Korean language support, as well as 28 other languages, is Best Wallet, a secure and easy-to-use self-custody wallet.

While its self-custodial design already offers a significant security advantage, Best Wallet goes a step further by integrating state-of-the-art protocols such as Fireblocks to reassure investors that their assets are safe. 

Where the wallet also excels is in its no-KYC structure, which enables users to seamlessly access both basic and advanced trading features without jumping through the hoops of identity verification. Not only does this approach broaden accessibility but it also ensures unmatched convenience for investors seeking quick entry to the crypto space.

The next major attraction lies in its multichain functionality. Unlike DEXes that are only limited to their native blockchain alone, Best Wallet is on track to add support for over 60 networks, and enable all of their tokens. 

Already, it supports major blockchains like Solana, Binance Smart Chain, Ethereum, Base, Polygon, and Bitcoin, making it possible for users to freely buy, send, receive, and swap cryptos running on the networks without creating additional wallets.

Best of all, it offers a token launchpad through the “Upcoming Tokens” facility to help investors buy promising early-stage cryptocurrencies within the app before they go live and market demand starts affecting their prices. Staking perks are available as well, accompanied by other vital features like fiat payment, portfolio management, gamified rewards, and many more.

With all of this in mind, it’s hardly surprising that Best Wallet has become one of the most widely used non-custodial wallets in the crypto space. Top voices in the industry have also endorsed the wallet, describing it as the best option for both newcomers and existing traders.

Download Best Wallet

This article has been provided by one of our commercial partners and does not reflect Cryptonomist’s opinion. Please be aware our commercial partners may use affiliate programs to generate revenues through the links on this article.