Mirae Asset Builds $109 Billion Digital Asset Business with Digital X

Mirae Asset, a South Korean financial group, is planning to build a massive digital asset business. The company aims to create a $109 billion market around Digital X, a crypto exchange formerly known as Korbit. The expansion plans include focusing on cryptocurrencies, stablecoins, real-world assets, and security token offerings.

The group will tokenize physical assets such as gold, silver, and electricity. Mirae Asset Consulting acquired a 97.15% stake in Korbit for a cumulative 141.4 billion won in July this year. The exchange was rebranded as Digital X after the acquisition.

Founded in 2013, Korbit is South Korea's first cryptocurrency exchange but only accounts for 0.5% of the country's cryptocurrency trading market, according to the Fair Trade Commission. Mirae Asset founder and chairman Park Hyeon-joo outlined the plans at a Digital X employee event in Seoul.

He stated that 'Our initial goal is to make Digital X a core pillar of ‘Mirae Asset 3.0,’”