Mirae Asset Aims for $109 Billion Crypto Empire with Digital X Acquisition

Mirae Asset Financial Group, a South Korean giant with $1 trillion in assets under management, plans to build a massive crypto empire around its recent acquisition Digital X (formerly Korbit), chairman and founder Park Hyeon-joo told employees Thursday. The goal is to grow the digital asset business to 150 trillion won ($109 billion) by leveraging the group's 1,500 trillion ($1.09 trillion) in client assets.

The company aims to ensure Digital X is profitable by 2027 and will focus on four areas: crypto, stablecoins, real-world assets (RWAs), and security token offerings (STOs). It will also tokenize physical assets, including gold, silver, and electricity. The plan includes building an 'onchain finance' ecosystem.

Days after the acquisition, Mirae told CoinDesk that it wanted to turn Korbit into something South Korea had never seen before, adding that it would develop Digital X into an 'intelligent investment platform' where knowledge, information, and in-depth investment insights are organically connected. The company also said it would build an investment ecosystem in which RWAs, STOs, stablecoins, and digital assets would be seamlessly interconnected with traditional assets.