Mirae Asset Sets Sights on $109 Billion Digital Asset Business

Mirae Asset Financial Group is setting its sights on building a $109 billion digital asset business around Digital X, formerly known as Korbit. The group's founder and chairman, Park Hyeon-joo, outlined his ambition to make crypto and blockchain-based finance a new growth engine for the company.

The plan involves turning the digital asset business profitable by 2027 and is considering injecting up to $300 billion in additional capital to expand its operations. Digital X will focus on four areas: crypto, stablecoins, real-world assets, and security token offerings.

Park said that the group's initial goal is to make Digital X a core pillar of 'Mirae Asset 3.0' and grow the digital asset business to $150 trillion by leveraging the group's $1,500 trillion in client assets. He indicated that the group could provide further capital as the business scales.

The company plans to develop financial products and services using digital assets and make proprietary investments to strengthen its position in the market. The longer-term goal is to build a global platform that brings traditional and digital assets under one roof, with Digital X at its center.