Mirae Asset Group faces the challenge of onboarding corporate and institutional clients to the digital asset market following its Korbit acquisition. The Korea Fair Trade Commission (KFTC) completed its corporate merger review on the 12th. Corporate clients must complete investment review, internal approval, custody arrangements, accounting and risk management protocols, and security audits before executing transactions. The success of Mirae Asset Group's digital asset strategy depends on establishing institutional-grade infrastructure rather than competing solely on trading volume, as South Korea's virtual asset market transitions from retail-dominated trading to regulated institutional participation.
KFTC Completes Korbit Merger Review
According to Mirae Asset Group on the 12th, the KFTC completed its corporate merger review of Korbit, a domestic virtual asset exchange. Mirae Asset Group stated its plan to build an investment ecosystem connecting traditional assets and digital assets through Korbit. The group presented expansion possibilities including stablecoins, real-world assets (RWA), custody, and digital payment and storage services.
Corporate Clients Require Multi-Stage Approval Process
Corporate and institutional clients undergo multiple internal procedures before executing virtual asset trades, even when considering such assets as investment targets. Investment suitability and limit setting, fund execution authority, custody methods, price calculation, profit and loss recognition, and internal control standards must be established together. Considering the volatility and hacking risks of virtual assets and the burden of accounting treatment, the functions that exchanges must provide cannot remain limited to simple order execution. Corporate clients need materials and risk guidance that can explain investment targets internally, and data that can be used for reporting. Custody systems for entrusting assets, abnormal transaction detection, wallet key management, and order and withdrawal authority controls are also required.
Mirae Asset Announces Research and Custody Enhancement Plan
Mirae Asset Securities possesses research, wealth management (WM), investor protection, and internal control experience. Mirae Asset Asset Management holds product design and management capabilities. If Korbit handles digital asset trading infrastructure and combines with the risk management and customer support systems accumulated by financial affiliates, it can help establish the explanation, custody, and post-management systems that corporate clients demand. Mirae Asset Group announced plans to strengthen the capabilities of Korbit's research center, investor education content, and risk guidance functions. The intent is to create an environment where customers encountering digital assets for the first time can understand the characteristics and risks of assets and invest. Korbit's market share is not large compared to top exchanges in the industry.
Industry Analysts Highlight Institutional Onboarding as Key Differentiator
A financial investment industry official stated, "When corporate and institutional clients review virtual asset investment, they look at internal decision-making, custody, and risk management standards before whether trading is possible. If Mirae Asset Group wants to differentiate through Korbit, it will be important to create an onboarding system that allows corporate clients to understand and manage like institutional financial products, rather than simple exchange competition."
FAQ
What did the Korea Fair Trade Commission approve on the 12th?
The KFTC completed its corporate merger review of Mirae Asset Group's acquisition of Korbit, a domestic virtual asset exchange, on the 12th.
What internal procedures must corporate clients complete before trading virtual assets?
Corporate clients must complete investment review, internal approval, custody arrangements, accounting and risk management protocols, and security audits before executing virtual asset transactions. Investment suitability and limit setting, fund execution authority, custody methods, price calculation, profit and loss recognition, and internal control standards must be established together.
