Mirae Asset has completed its acquisition of a 97.15 percent stake in South Korean crypto exchange Korbit and will rebrand it as Digital X. The financial group aims to create an intelligent investment platform connecting real-world assets, stablecoins and digital assets.
Mirae Asset Consulting increased its stake in Korbit to 97.15 percent after receiving approval from South Korea's Fair Trade Commission. The acquisition followed lawful procedures and regulatory review, the firm said.
Korbit will be rebranded as Digital X. The name represents an uncharted future and the limitless possibilities created when different forms of value intersect, according to Mirae Asset.
The company plans to develop the platform with a focus on investor education, research and strict compliance with AML and KYC standards. It will integrate real-world assets, security tokens, stablecoins, traditional assets and digital assets.
Mirae Asset, which manages about $1 trillion in assets, said it does not intend to buy the remaining shares in Korbit. The group emphasized sustainable industry growth over direct competition with exchanges like Upbit and Bithumb.
