South Korea’s Crypto Pioneer Bithumb Joins $1 Trillion Mirae Financial Empire

Korbit, South Korea’s first cryptocurrency exchange, has officially become part of the Mirae Asset Group ecosystem, representing the first instance of a major traditional Korean financial group affiliate gaining a controlling position in a domestic crypto exchange.

Founded in 2013 as South Korea’s first locally established crypto trading platform, Korbit now has a new owner backed by one of the country’s largest financial institutions.

The exchange announced on Thursday that it has joined the Mirae Asset Group family, which reportedly managed around $1 trillion in assets under management as of May.

The acquisition was completed through Mirae Asset Consulting, a Mirae Asset Group affiliate, which became Korbit’s largest shareholder after acquiring shares through required regulatory reporting procedures. The company clarified that Korbit Co., Ltd., the entity operating the exchange, will continue to operate without structural changes.

Mirae Asset Consulting, which is also involved in managing the group’s hospitality and golf-related businesses, now reportedly owns a 97.15% stake in Korbit.

For existing Korbit customers, the ownership change is not expected to affect daily operations. The exchange confirmed that services including account access, trading, deposits, and withdrawals will continue as normal. Customer funds and digital assets will remain separated from company assets in accordance with South Korea’s Act on the Protection of Virtual Asset Users. The handling of personal information will also remain unchanged, with no action required from users.

The acquisition highlights the growing interest among traditional financial institutions in expanding their presence in the digital asset sector by partnering with established crypto companies. In South Korea, where retail crypto trading activity frequently rivals stock market participation, controlling a licensed exchange represents a valuable strategic opportunity.

Similar moves are emerging across Asia. Japan’s SBI Group, for example, has pursued expansion in the crypto sector through plans to acquire Tokyo-based exchange Bitbank for $289 million and secure a majority stake in Singapore-based crypto platform Coinhako.

The deal reflects a broader shift as traditional financial firms increasingly seek exposure to digital assets through established crypto infrastructure providers.