Mirae Asset Consulting has completed a $102 million acquisition of Korbit, South Korea’s longest-running cryptocurrency exchange, taking a 97.15% ownership stake. This marks the first time a major Korean financial group directly manages a domestic crypto platform.
The South Korean Fair Trade Commission approved the deal on July 9, 2026, determining that Korbit’s small market share of about 0.5% would not harm competition. Mirae Asset initially bought roughly 92% and later increased its stake by another 5.42%, totaling an investment near 141.4 billion won.
From Korbit to Digital X
Founded in 2013, Korbit lags far behind top exchanges like Upbit and Bithumb in trading volumes. Mirae Asset plans to rebrand Korbit as Digital X, aiming to build a platform that integrates real-world asset tokenization, security token offerings, stablecoins, and traditional securities under one ecosystem.
Park Hyeon-joo, Mirae Asset’s founder and Global Strategy Officer, explained that the "X" symbolizes an unexplored future with infinite possibilities emerging from converging diverse types of value. He emphasized that Digital X will serve as an intelligent investment platform that combines institutional-level compliance tools like anti-money laundering, know-your-customer protocols, and fraud detection with research and investor education.
Rather than chasing trading volume to compete with market leaders, Mirae Asset envisions Digital X as infrastructure leveraging Korbit’s digital asset expertise alongside its own asset management experience. Park highlighted the need for trust and compliance in digital finance, saying these are key foundations that require constant vigilance.
With Mirae Asset managing around $1 trillion in client assets as of May 2026, this move signals growing institutional involvement in Asia’s crypto industry. The company aims to connect traditional and digital finance in a way that advances sustainable adoption and regulatory compliance.
