Mirae Asset Group, South Korea's largest financial group, announced the rebrand of its cryptocurrency exchange Korbit to Digital X on July 23, reshaping the platform under the conglomerate's ownership.
Mirae Asset Consulting holds a 97.15% stake in the exchange. The rebrand marks the first time a major South Korean financial conglomerate has taken full operational control of a crypto exchange, moving beyond the venture capital or minority stake model that has dominated Korean crypto ownership.
Mirae Asset Group Chairman Park Hyeon-joo announced the rebrand in an internal message to employees, framing Digital X as part of a broader strategic pivot toward digital financial infrastructure. The company describes the rebranded platform as an "intelligent platform" designed to integrate cryptocurrency trading with wealth management services across Mirae Asset's existing customer base of institutional and retail investors.
Korbit was founded in 2013 and operated as an independent exchange before Mirae Asset's acquisition. The platform has historically ranked among South Korea's top five crypto trading venues by volume. Mirae Asset's takeover occurred amid a regulatory environment in South Korea that has grown more restrictive toward independent crypto exchanges; several smaller platforms have shut down or merged since 2023 as compliance costs rose and customer protections tightened.
The rebrand positions Digital X within Mirae Asset's broader "Mirae Asset 3.0" strategic vision, which centers on expanding the group's digital and alternative asset divisions. Mirae Asset operates securities trading, asset management, and insurance divisions across South Korea and internationally, making the crypto integration part of a larger consolidation of digital services under group ownership.
Digital X will compete against established Korean crypto exchanges including Upbit and Bithumb, both of which operate under different ownership structures. Upbit is owned by Dunamu and backed by venture investors; Bithumb is controlled by the investment firm BTC Holdings. Neither is owned by a financial conglomerate of Mirae Asset's scale.
Mirae Asset's control of 97.15% of Digital X gives the financial group singular authority over the exchange's operations, fee structures, and strategic direction. The remaining stake distribution has not been disclosed. The timeline for full operational integration under the new brand and the specific services Digital X will offer beyond spot trading have not yet been announced.
