Mirae Asset Group, with assets under management reaching $1 trillion, has taken a commanding 97.15% ownership of Korbit, South Korea’s oldest cryptocurrency exchange, investing approximately 7.2 billion won ($5.32 million) in the final share purchase. This move marks a significant milestone as it is the first time a traditional Korean financial group’s affiliate holds a controlling interest in a domestic crypto exchange, reshaping the local digital finance landscape.
Strategic Acquisition and Regulatory Approval
Korbit, established in 2013, has long been a pioneer in South Korea's crypto market. Mirae Asset Consulting’s acquisition raised their stake from 92.06% to 97.15%, solidifying their control. The deal received the green light from South Korea’s Fair Trade Commission, representing a regulatory breakthrough for institutional involvement in crypto exchanges. Mirae Asset’s investment reflects a clear intent to capitalize on future growth opportunities amid the expanding digital asset sector.
Rebranding and Vision for Digital Finance Integration
Following the acquisition, Korbit was rebranded as Digital X, signaling a strategic pivot. Digital X aims to blend traditional finance with innovative digital asset solutions through tokenization of real-world assets, the creation of security tokens, and stablecoins, along with investment products that serve as bridges between conventional and digital markets. This approach aligns with Mirae Asset’s broader “3.0” strategy, which integrates three decades of global investment expertise with emerging digital asset capabilities.
Under the new ownership, existing services such as trading, deposits, and withdrawals will continue uninterrupted, ensuring user confidence during the transition. As institutional weight moves into crypto, platforms like Digital X are expected to enhance trust and expand offerings tailored for more conservative investment clients.
