Mirae Asset Outlines $109B Digital X Expansion After Korbit Deal

Mirae Asset Financial Group has outlined a plan to build Digital X, formerly the Korbit exchange, into a 150 trillion won digital-asset business, equivalent to approximately $109 billion. Chairman and founder Park Hyeon-joo presented the strategy to employees on August 27 and set a target for the unit to become profitable by 2027.

Digital X will span four business areas

Park identified cryptocurrency, stablecoins, real-world assets and security token offerings as the unit’s main areas of focus. Mirae also plans to explore tokenization of physical assets, including precious metals and electricity, while connecting the products to a broader onchain-finance ecosystem.

The roadmap follows Mirae’s acquisition of a 97% stake in Korbit in July and the exchange’s subsequent rebranding as Digital X. One of the platform’s first competitive moves was a year-long trading-fee waiver, a strategy examined in our report on Digital X’s challenge to Upbit.

Mirae is linking crypto with traditional finance

Mirae manages about $1 trillion in assets and intends to use its existing financial-services network to support the digital platform. The company previously described Digital X as an intelligent investment platform connecting research, traditional assets and blockchain-based products.