Key facts
- Mirae Asset Consulting acquired a 97.15% stake in Korbit, South Korea's oldest crypto exchange.
- Korbit will be rebranded as Digital X.
- The new entity aims to become an 'intelligent investment platform' integrating various asset classes.
- Mirae Asset will focus on investor education, research, and compliance.
- The acquisition was completed after regulatory approval from South Korea's Fair Trade Commission.
Mirae Asset Consulting, an affiliate of the financial conglomerate Mirae Asset Group, has completed its acquisition of Korbit, South Korea's first cryptocurrency exchange, rebranding it as Digital X. The firm intends to transform the exchange into an "intelligent investment platform" that seamlessly integrates real-world assets, security tokens, stablecoins, traditional assets, and digital assets. Rather than directly competing with dominant exchanges like Upbit and Bithumb, Mirae Asset plans to differentiate Digital X by emphasizing investor education, research, strict compliance standards, and institutional-grade infrastructure. This strategy aims to foster the sustainable growth of the digital asset industry in South Korea and globally. The acquisition, which gives Mirae Asset Consulting a 97.15% stake, received regulatory approval from South Korea's Fair Trade Commission. User services and assets are expected to remain uninterrupted.