South Korean financial group Mirae Asset plans to build a 150 trillion won ($109 billion) digital asset business centered on Digital X, the cryptocurrency exchange formerly known as Korbit, according to The Korea Times.

Under the plan, Digital X will focus on cryptocurrency trading, stablecoins, real-world asset (RWA) tokenization, and security token offerings (STOs), with concrete steps to tokenize physical assets including gold, silver, and electricity.

The expansion follows Mirae Asset Consulting’s acquisition of a 97.15% stake in Korbit in July for a cumulative 141.4 billion won, as reported by The Korea Times. The exchange was subsequently rebranded as Digital X, marking the first time an affiliate of a South Korean financial group took control of a domestic crypto exchange.

Founded in 2013, Korbit was South Korea’s first cryptocurrency exchange, launching roughly four years before the country introduced its regulatory framework for crypto trading. Despite its long history, the platform accounted for just 0.5% of South Korea’s cryptocurrency trading market in 2025, according to the country’s Fair Trade Commission — a figure that underscores the scale of the challenge facing Mirae Asset’s ambitions. South Korea’s crypto market has long been dominated by Upbit, operated by Dunamu, with Bithumb as the other major player, leaving smaller exchanges like the one Mirae Asset now controls to compete for a thin remainder of trading activity.

Mirae Asset founder and chairman Park Hyeon-joo outlined the plans at a Digital X employee event in Seoul on Wednesday.

“Our initial goal is to make Digital X a core pillar of ‘Mirae Asset 3.0,’” Park said, according to The Korea Times. Mirae Asset is one of South Korea’s largest financial groups, spanning brokerage, banking and asset management, and the digital asset push represents an effort to fold crypto-related services into that broader footprint.

The initiative comes as major financial institutions worldwide increasingly explore tokenization of real-world assets and stablecoin issuance, areas that have drawn growing attention from regulators and traditional banks alike. In South Korea, regulators have moved to tighten oversight of the sector, including requirements around listing transparency and investor protections, which shapes the operating environment for exchanges seeking to expand.

In a move to attract users, Digital X began waiving trading fees across all won-denominated assets on Monday. The zero-fee policy is set to run through Aug. 24, 2027, according to the exchange’s fee schedule.

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