Mirae Asset | Crypto

Mirae Asset Consulting has become Korbit’s largest shareholder after completing its acquisition, with the exchange saying trading and customer asset protections are unchanged. Mirae Asset Consulting, an affiliate of one of South Korea’s largest financial groups, has completed its acquisition of a controlling stake in South Korean crypto exchange Korbit, becoming the exchange’s largest shareholder after completing regulatory procedures. Korbit said in a Thursday announcement published on its website that its operating entity remains unchanged and that trading, deposits and withdrawals will continue without interruption.  The exchange added that customer assets remain segregated under South Korea’s Virtual Asset User Protection Act. Read more

Mirae Asset Consulting agreed to acquire a 92.06% controlling stake in South Korean crypto exchange Korbit for about $93 million in cash. Mirae Asset Consulting, an affiliate of South Korean multinational financial services company Mirae Asset Group, has agreed to acquire a controlling stake in local crypto exchange Korbit. The company plans to purchase 26.9 million shares of Korbit for 133.48 billion won (about $93 million), a transaction that would give it a 92.06% ownership interest in the exchange, according to a Friday regulatory filing. The payment will be made entirely in cash Mirae Asset said the purpose of the acquisition is “to secure future growth drivers through digital-asset (virtual-asset) businesses,” per the filing. The company’s board approved the decision on Feb. 5, while reports on the planned deal initially surfaced last year. Read more