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South Korean Financial Group Mirae Asset Eyes Crypto Exchange Korbit Acquisition
Source: CryptoNewsNet Original Title: South Korean financial group Mirae Asset eyes crypto exchange Korbit acquisition: report Original Link: https://cryptonews.net/news/market/32199681/ Mirae Asset, a Seoul-based financial group, is considering buying South Korean cryptocurrency exchange Korbit.
The company is in talks to acquire 92% of Korbit for as much as 140 billion won ($97 million), according to industry officials.
Mirae Asset, which offers asset management, wealth management, investment banking and insurance, is a prominent company in traditional finance (TradFi) in South Korea. The acquisition would be its first involvement in a cryptocurrency-related business.
One industry official noted that Mirae founder Park Hyeon-joo has emphasized exploring opportunities in connecting traditional and digital assets.
“Korbit has historically had a limited presence, but Mirae Asset Financial Group’s decades of expertise could allow it to pursue a differentiated strategy,” the official added.