South Korea’s first cryptocurrency exchange, Korbit, has officially been renamed Digital X after being acquired by Mirae Asset Group, marking the traditional financial giant’s boldest push yet into digital assets and tokenized markets.
According to local reports, Mirae Asset Group Founder and Global Strategy Officer Park Hyeon-joo announced the new Digital X brand in an internal email to employees on July 23. Despite the major ownership shift, Korbit confirmed that retail and institutional customers can continue using existing trading, deposit, and withdrawal services without disruption.
More than a simple name change
The rebranding follows Mirae Asset’s recent acquisition of Korbit through its affiliate, Mirae Asset Consulting. The group secured a 97.15% stake in the exchange after initially purchasing 91.7% on July 22 and later acquiring the remaining 5.42%.
The takeover, valued at approximately ₩133.5 billion ($93 million), is among the first major acquisitions of a South Korean cryptocurrency exchange by a traditional financial institution.’
In the email, Park described Digital X as a key part of the group’s “Mirae Asset 3.0” vision. He said Digital X will serve as Mirae Asset’s platform for bringing traditional finance and digital assets together. The company plans to expand into real-world asset (RWA) tokenization, security token offerings (STOs), stablecoins, and other digital investment products.
Park added that the “X” in Digital X represents the unknown future and the opportunities created when different technologies and asset classes come together.
Compliance remains a priority
Alongside its growth plans, Mirae Asset said strong compliance standards will remain at the heart of the business.
Park stressed that Digital X will maintain strict controls around anti-money laundering (AML), know-your-customer (KYC) checks, information security, and fraud detection systems (FDS). He also said the company wants to stay ahead of South Korea’s changing crypto regulations, like updates to the Virtual Asset User Protection Act and the country’s planned framework for security tokens.
Park also stressed that Mirae Asset’s philosophy is customer-first, adding that all decisions should be made based on helping customers grow their wealth while ensuring products meet the firm’s quality standards.
A bigger role in digital finance
The rebranding shows that Mirae Asset views Digital X as more than just a cryptocurrency exchange. The company is positioning the platform as a key part of its long-term digital finance strategy, with ambitions that extend beyond crypto trading.
With more financial firms entering the blockchain space, Digital X is expected to become a key platform linking traditional finance and digital assets in South Korea.
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