Mirae Asset Group said Thursday that its planned acquisition of Korbit, a domestic cryptocurrency exchange, has cleared review by the Fair Trade Commission (FTC). "The FTC's approval is significant because it marks the first acquisition of a cryptocurrency exchange by an affiliate of a financial group, highlighting the growing convergence between traditional finance and virtual asset platforms," Korbit said in a statement. Mirae Asset Consulting, an affiliate of the group, said in February it agreed to buy 26.91 million shares in Korbit, equivalent to a 92.06 percent stake, for 133.5 billion won ($88.82 million). Follow-up procedures to complete the acquisition will proceed in stages, though the timeline has yet to be finalized, the exchange said. Digital finance is one of the group's key mid- to long-term growth drivers. In June, it launched its global investment platform Mirae Asset Portfolio Service (MAPS) in Hong Kong, laying the groundwork to integrate traditional and digital assets. Mirae Asset said it aims to combine its global investment expertise in securities and asset manageme