Mirae Asset Rebrands Korbit as Digital X

Founded in 2013, Korbit is South Korea’s first crypto exchange and one of five licensed platforms offering won-based trading, though it controls only about 0.5% of domestic virtual-asset volume. The Fair Trade Commission cleared the transaction on July 9, calling it the first takeover of a crypto exchange by an affiliate of a traditional Korean financial group. The deal gives Mirae Asset Financial Group a regulated foothold in digital assets as Korean finance pushes further into tokenization and crypto services.

Korbit said on July 23 that Mirae Asset Consulting had completed regulatory procedures and become its largest shareholder after buying a 92.06% stake for 133.48 billion won ($91 million). Mirae filed a revised disclosure on July 21 to purchase another 1.59 million shares for 7.89 billion won ($5.32 million), with the additional transaction expected to close on July 24 and lift its holding to 97.15%. Korbit said trading, deposits and withdrawals would continue normally, while customer assets would remain segregated under South Korea’s Virtual Asset User Protection Act.