Mirae Asset’s Park Says Korbit to Rebrand as Digital X After $102 Million Deal, Eyeing STOs and Stablecoins

Acquires 97.15% stake and launches new Digital X brand

Targets RWA tokenization, STOs and stablecoins

Seeks to expand beyond exchange into investment platform

Mirae Asset Group has completed its acquisition of South Korean cryptocurrency exchange Korbit. The company plans to relaunch it under the name Digital X and step up its digital-asset business in real-world asset tokenization, security token offerings and stablecoins.

In a message to Korbit employees on July 23, Mirae Asset Group Chairman Park Hyeon-joo wrote that Korbit had become part of Mirae Asset and would make a fresh start under the Digital X name.

Mirae Asset Consulting, a Mirae Asset Group affiliate, acquired a 97.15% stake in Korbit for about 141.4 billion won ($102 million). It had originally agreed to purchase 92.06%, but increased its final holding through additional share purchases. South Korea’s Fair Trade Commission approved the acquisition on July 9, saying the deal was unlikely to significantly restrict market competition.

Park said the “X” in Digital X stands for the infinite possibilities created by the intersection and convergence of different values with an unknown future. He said Mirae Asset would combine its experience in traditional finance with Korbit’s expertise in virtual assets to build a new investment ecosystem.

The company’s mission, he wrote, is to create a new investment paradigm by combining traditional and digital assets, as well as Mirae Asset’s know-how and Korbit’s specialization. Digital X will be a key pillar of what he called “Mirae Asset 3.0.”

Park identified RWA tokenization, STOs and stablecoins as core businesses. The company plans to convert traditional assets such as stocks, bonds and real estate into blockchain-based tokens and build infrastructure that allows digital assets and conventional financial products to be traded and managed within a single ecosystem.

He also said Korbit would be developed beyond a simple crypto exchange into an intelligent investment platform with investment information and educational functions. The company plans to significantly strengthen investor education and develop the platform into one where knowledge, information and deeper insight flow organically.

Customer protection and internal controls were also set as top priorities. The company will strictly comply with relevant laws and global standards on anti-money laundering, know-your-customer procedures, information security and fraud detection systems, Park said.

He added that products with no value should not be brought to market even if they carry the Mirae Asset name. Customer asset protection and market trust must remain the top priorities, backed by rigorous internal controls and risk management.

Korbit’s corporate entity and existing service operations will remain unchanged for now. No separate customer consent or additional action will be required following the change in the controlling shareholder, and there will be no changes to crypto trading, Korean won deposits and withdrawals, or the way customer funds are managed.