Korean traditional financial giants compete to expand: Future asset acquisition of the fourth-largest exchange Korbit, industry consolidation accelerates

【Crypto World】Future Asset Group is planning to acquire Korea’s fourth-largest cryptocurrency exchange, Korbit. According to information, the valuation of this deal is estimated to be between 100 billion and 140 billion Korean Won, approximately 70 million to 100 million USD in RMB.

The acquisition is being led by Mirae Asset Consulting, a non-financial subsidiary of Future Asset. Both parties have signed a memorandum of understanding. In terms of ownership structure, Korbit is currently controlled by NXC and its subsidiary Simple Capital Futures, holding about 60.5% of the shares, with SK Square owning an additional 31.5%.

Why are major financial institutions so optimistic about Korbit? The key lies in its complete operational license and compliance system. For traditional financial giants looking to enter the digital asset space through compliant channels, this is akin to obtaining a “passport.”

However, to be fair, Korbit’s influence in the market is actually limited. According to CoinGecko data, the total 24-hour trading volume of Korea’s six major exchanges is about $1.21 billion, with Korbit contributing only $5.75 million, accounting for less than 1%. In comparison, Upbit, Bithumb, and Coinone are the true dominant players.

This wave of acquisitions reflects the ongoing expansion of Korea’s traditional financial and tech giants into the crypto asset field. Earlier, Naver Financial was also pushing forward with a plan to acquire the operator of Upbit, Dunamu, through equity swaps, demonstrating how hot this trend is.