Mirae Asset has completed its acquisition of Korbit, South Korea’s oldest cryptocurrency exchange, and plans to rebrand the business as Digital X as part of a broader push into digital asset infrastructure.

The South Korean financial group said Mirae Asset Consulting increased its stake in Korbit to 97.15%, completing the acquisition after receiving regulatory approval from South Korea’s Fair Trade Commission. Mirae Asset said the deal is intended to support a wider ecosystem that connects real-world assets, security token offerings, stablecoins, traditional assets and digital assets.

The company told CoinDesk that its plans for Korbit extend beyond gaining share in South Korea’s crypto exchange market. Instead, Mirae Asset said it wants to develop Digital X into what it described as an “intelligent investment platform.”

“We plan to strengthen investor education and research capabilities and develop Digital X into an 'intelligent investment platform' where knowledge, information and in-depth investment insights are organically connected,” the firm told CoinDesk in an email.

Mirae Asset said the Digital X name reflects its broader vision for the exchange. The “X” represents an uncharted future and the limitless possibilities created when different forms of value intersect and converge, the firm said.

Mirae Asset Financial Group is one of Asia’s largest independent financial and asset management groups. As of May, the group’s total assets under management were reportedly $1 trillion. That scale gives the acquisition significance beyond Korbit’s current trading footprint, because it brings a major traditional financial institution deeper into digital asset services at a time when exchanges, tokenized assets and compliance infrastructure are increasingly being discussed as connected parts of the same market.

A broader digital asset ecosystem

Mirae Asset’s plan goes beyond a change of name. The company said it aims to build an investment ecosystem in which real-world assets, security token offerings, stablecoins, traditional assets and digital assets are interconnected.

That strategy would position Digital X as an infrastructure layer rather than simply another exchange competing for trading volume in South Korea’s crowded crypto market. Korbit currently accounts for less than 1% of the domestic crypto market, well behind Upbit and Bithumb, the country’s dominant exchanges.

Asked directly about how it plans to compete, Mirae Asset said its objective is not to overtake any particular company or exchange. The firm said its focus is on helping the digital asset industry grow in a sustainable way in South Korea and globally.

“We intend to combine Mirae Asset's extensive global investment expertise with Korbit's digital asset capabilities to promote the sound and sustainable growth of the digital asset industry in Korea and globally.”

The company’s comments indicate that Digital X is being positioned as a platform that combines institutional investment capabilities, research, investor education and digital asset infrastructure in one place, rather than as a conventional exchange focused primarily on retail trading volumes. That distinction matters because Korbit’s small market share limits its role as a trading venue today, while Mirae Asset’s stated plan focuses on services and infrastructure that could sit alongside exchange activity.

Mirae Asset also told CoinDesk that it would strictly comply with anti-money laundering, know-your-customer and fraud-detection standards across all areas. The emphasis on compliance and infrastructure suggests Digital X is being developed for institutional clients as well as retail users.

The acquisition was completed through Mirae Asset Consulting, an affiliate of Mirae Asset. The company said that structure was selected after a review of regulatory requirements, affiliate roles and potential synergies with the digital asset business.

“The acquisition was carried out through lawful procedures following a thorough review of the relevant laws and regulatory framework. Mirae Asset Consulting was selected as the acquiring entity after comprehensive consideration of each affiliate’s business purpose and role, as well as its potential synergies with the digital asset business,” the firm said.

Mirae Asset added that it currently has no plans to acquire the remaining shares of Korbit. For now, the company said it will focus solely on strengthening Digital X’s competitiveness.