Korbit Rebrands as Digital X Under Mirae Asset Ownership

South Korean cryptocurrency exchange Korbit will rebrand as Digital X following its acquisition by Mirae Asset Group. Mirae Asset founder and global strategy officer Park Hyeon-joo announced the new name in an internal email to employees on Thursday, according to Herald Business. The rebranding forms part of the group's 'Mirae Asset 3.0' strategy, which aims to integrate digital assets with traditional finance. Mirae Asset completed its acquisition of a 97% stake in Korbit on Thursday. The move comes as South Korea continues developing regulatory frameworks for cryptocurrencies and tokenized securities.

Mirae Asset Completes 97% Stake Acquisition in Korbit

Mirae Asset finalized its acquisition of a 97% ownership stake in Korbit on Thursday. Korbit stated that its existing services would continue without changes following the acquisition. The exchange maintains its current operational structure while transitioning to the Digital X brand under Mirae Asset's ownership.

Digital X Plans Expansion into RWA Tokenization and Stablecoins

Park Hyeon-joo described Digital X as central to Mirae Asset's strategic vision. The company plans to expand into real-world asset tokenization, security token offerings, stablecoins, and traditional asset products. Park stated the exchange would combine digital asset capabilities with Mirae Asset's traditional finance infrastructure as part of the 'Mirae Asset 3.0' initiative.

Korbit Prioritizes AML Controls Under New Ownership

Park outlined compliance priorities for Digital X in the internal communication. The exchange will focus on anti-money laundering controls, customer verification processes, information security measures, and fraud detection systems. These priorities align with South Korea's ongoing development of regulatory frameworks for cryptocurrencies and tokenized securities.

FAQ

Why is Korbit rebranding as Digital X?

Korbit is rebranding as Digital X as part of Mirae Asset Group's 'Mirae Asset 3.0' strategy. Mirae Asset founder Park Hyeon-joo announced the rebrand on Thursday following the completion of Mirae Asset's 97% stake acquisition in Korbit. The new name reflects the exchange's integration into Mirae Asset's vision of combining digital assets with traditional finance.

Will Korbit's services change after becoming Digital X?

Korbit stated that its existing services would continue without changes following the acquisition. The exchange will maintain current operations while transitioning to the Digital X brand and expanding into new areas including real-world asset tokenization, security token offerings, stablecoins, and traditional asset products under Mirae Asset ownership.