South Korea’s Financial Giant Mirae Asset Launches $109 Billion Digital Asset Drive With Rebranded Korbit Exchange

Institutional Crypto Expansion Takes Root in South Korea

One of South Korea’s leading financial conglomerates has charted an ambitious course into the digital assets space. According to The Korea Times, Mirae Asset plans to establish a digital asset business valued at 150 trillion won—roughly $109 billion USD—with the expansion anchored by Digital X, a cryptocurrency exchange previously operating under the name Korbit. The strategic initiative represents a significant institutional play in markets that have historically been dominated by retail and specialized traders.

Diversified Digital Asset Strategy

The Korea Times reported that Digital X will operate across multiple segments of the emerging digital asset ecosystem. The platform’s scope encompasses traditional cryptocurrencies, stablecoin offerings, real-world asset opportunities, and security token products. Notably, Mirae Asset intends to pursue tokenization of tangible commodities, beginning with precious metals including gold and silver, as well as electricity markets—reflecting a growing institutional trend toward representing physical assets on blockchain networks.

Historic Acquisition and Market Repositioning

Mirae Asset Consulting took controlling interest in Korbit through a transaction completed in July, acquiring a 97.15% stake for 141.4 billion won. This acquisition represented a watershed moment for South Korea’s crypto sector: the first instance of a major domestic financial services group taking operational control of a domestic cryptocurrency exchange. Korbit’s history stretches back to 2013, when it became South Korea’s inaugural cryptocurrency exchange. However, market dynamics had eroded its once-dominant position—by 2025, Korbit’s share of South Korea’s cryptocurrency trading volume had contracted to just 0.5%, according to the country’s Fair Trade Commission.

Growth Ambitions and Market Incentives

At a company event in Seoul, Mirae Asset founder and chairman Park Hyeon-joo communicated the scale of the company’s ambitions. Per The Korea Times, Park characterized Digital X as intended to become “a core pillar of ‘Mirae Asset 3.0,'” underscoring the organization’s view of digital assets as central to its strategic evolution.

To attract both new participants and active traders, Digital X launched a promotional initiative beginning August 25. The platform eliminated trading fees across all won-denominated assets through August 24, 2027—a full-year window designed to build market share during the critical expansion phase.

Institutional players committing nine-figure investments to crypto infrastructure signal broader market validation for digital assets globally.

Source: The Korea Times, via Cointelegraph. Not financial advice.