What to Know

  • Mirae Asset Financial Group plans to grow Digital X, formerly Korbit, into a 150 trillion won, or $109 billion, digital asset business.
  • Chairman and founder Park Hyeon-joo told employees that Digital X is expected to become profitable by 2027.
  • The strategy focuses on cryptocurrency, stablecoins, real-world assets and security token offerings.
  • Digital X is also expected to tokenize physical assets, including gold, silver and electricity.
  • Mirae acquired a 97% stake in Korbit in July and later renamed the exchange Digital X.
  • The wider plan includes building an on-chain finance ecosystem connected to traditional assets.
  • South Korea has 11.3 million verified crypto users and is developing broader digital asset rules covering stablecoins, VASP licensing and crypto exchange-traded funds.
  • Shinhan Financial Group is also moving into stablecoin infrastructure through work with Visa, underscoring rising institutional competition in South Korea.

Mirae Asset Puts Digital X at the Center of Its Crypto Strategy

Mirae Asset Financial Group is setting out one of South Korea’s most ambitious institutional crypto strategies, with a plan to build Digital X, formerly known as Korbit, into a 150 trillion won digital asset business. The figure is equivalent to $109 billion and signals a major push by one of the country’s best-known financial groups into a market that is increasingly moving beyond spot crypto trading.

Park Hyeon-joo, chairman and founder of Mirae Asset Financial Group, outlined the vision to employees at an event titled A New Voyage Begins, Together. The message placed Digital X at the heart of a broader strategy to link conventional investment products with blockchain-based infrastructure, tokenized assets and new forms of digital settlement.

The target is not limited to simply expanding an exchange. Mirae wants Digital X to become a central platform for cryptocurrency, stablecoins, real-world assets and security token offerings. That positions the company for several areas of digital finance that market participants increasingly view as the next battleground for banks, brokers, asset managers and licensed exchanges.

Profitability Target Set for 2027

Park told employees that Mirae aims to make Digital X profitable by 2027. That timeline gives the group several years to integrate the former Korbit business, broaden its product base and develop infrastructure that can connect crypto-native markets with regulated financial products.

Korbit was founded in 2013, making it one of South Korea’s early crypto exchanges. Mirae acquired a 97% stake in the platform in July and later rebranded it as Digital X. The renaming reflects a clear attempt to move the business beyond the identity of a conventional exchange and toward a wider digital asset ecosystem.

For Mirae, ownership of a licensed exchange offers strategic value in a country where retail crypto trading volumes often rival those seen on stock exchanges. South Korea’s crypto market is known for deep retail participation, active local exchanges and a user base that has remained highly engaged through multiple market cycles. With 11.3 million verified crypto users in the country, the scale of the addressable market is difficult for major financial institutions to ignore.

Stablecoins, RWAs and STOs Form the Core Roadmap

Digital X will focus on four major areas: cryptocurrency, stablecoins, real-world assets and security token offerings. Each area fits into a broader institutional trend in which blockchain infrastructure is being tested for trading, settlement, collateral management and distribution of financial products.

Stablecoins are especially important because they can act as a bridge between traditional money and digital networks. For exchanges, payment companies and financial institutions, stablecoins may offer new ways to move value, settle transactions and build on-chain financial applications. However, their growth also depends heavily on regulation, reserve transparency, redemption rules and confidence in issuers.

Real-world assets, often shortened to RWAs, refer to traditional or physical assets represented on blockchain networks. Mirae’s plan includes tokenizing physical assets such as gold, silver and electricity. In practical terms, tokenization can allow ownership claims, revenue streams or asset exposure to be represented digitally. Supporters argue that this can improve market access and settlement efficiency, while skeptics continue to focus on custody, legal enforceability and investor protection.

Security token offerings are another major part of the roadmap. STOs generally involve blockchain-based securities that may represent equity, debt, fund interests or other regulated financial instruments. The opportunity for large institutions lies in combining familiar investor protections with programmable digital infrastructure. The challenge is that these products must operate inside securities law, licensing requirements and market supervision frameworks.

On-Chain Finance Meets Traditional Assets

Mirae’s vision for Digital X includes the creation of an on-chain finance ecosystem. The concept points to a financial environment in which digital assets, tokenized products, stablecoins and traditional assets are more closely interconnected. Rather than treating crypto as a separate speculative market, the company is positioning Digital X as a possible bridge between established finance and blockchain-based markets.

Park described Digital X as a core pillar of Mirae Asset 3.0 and said the group intends to leverage 1,500 trillion won, or $1.09 trillion, in client assets. That scale matters because a major asset manager can bring distribution, product design, risk management and institutional relationships to a sector that has often been dominated by crypto-native companies.

The move also reflects a wider shift in how traditional finance views blockchain. Earlier institutional interest often centered on bitcoin exposure or custody. The current wave increasingly focuses on tokenized funds, payment rails, stablecoin settlement, treasury products, digital identity and securities infrastructure. Digital X appears designed to compete in that broader arena.

South Korea’s Regulatory Backdrop Is Evolving

Mirae’s expansion comes as South Korea works on the Digital Asset Basic Act, a broad framework expected to cover stablecoins, virtual asset service provider licensing and crypto exchange-traded funds. The regulatory backdrop is crucial because the future of stablecoins, tokenized securities and exchange-based products will depend on how lawmakers define permissible activity and investor safeguards.

South Korea’s market has long been influential in global crypto trading. Strong retail participation has made local exchanges strategically important, and the country’s financial groups are increasingly exploring ways to participate without stepping outside regulated channels. A clearer legal framework could provide institutions with greater confidence, but it may also raise compliance costs and operating standards for platforms.

For Digital X, the regulatory process could shape everything from stablecoin services to tokenized asset offerings. Market participants will be watching how South Korea treats reserve requirements, redemption obligations, issuer approvals, listing standards and the role of licensed financial institutions in digital asset distribution.

Competition Builds as Shinhan Moves With Visa

Mirae is not alone in pursuing digital asset infrastructure. Shinhan Financial Group, one of South Korea’s five largest financial conglomerates, has announced plans to build stablecoin infrastructure and develop AI-powered payment models alongside Visa. Shinhan intends to use Visa’s stablecoin platform to verify core functions including issuance, remittance and redemption, while also designing a Korea-specific business model.

The timing underscores a broader competitive shift among South Korean financial firms. Stablecoins and tokenized assets are no longer being treated only as experimental crypto products. They are increasingly viewed as potential infrastructure for payments, settlement, investment products and cross-platform financial services.

That competition may accelerate product development, but it also raises the stakes for execution. Financial groups entering this space must manage technology risk, compliance obligations, cybersecurity, custody procedures and customer trust. In crypto, brand strength alone is not enough; operational resilience and transparent controls are central to long-term credibility.

Why Digital X Matters for Institutional Crypto

Digital X matters because it represents a potential new model for exchange ownership in South Korea. Rather than operating as a standalone trading venue, the platform is being positioned as part of a larger financial group with substantial client assets and a broader asset management business. That could allow the company to design products and services that connect trading, investment insight, tokenized assets and traditional portfolios.

After the acquisition, Mirae described ambitions to develop Digital X into an intelligent investment platform where knowledge, information and investment insights are organically connected. That framing suggests a move toward a more comprehensive user experience, potentially combining research, market access, portfolio tools and digital asset services.

Still, the path to a 150 trillion won business is likely to depend on several variables. These include regulatory approvals, market conditions, the adoption of stablecoins, investor demand for RWAs and STOs, and Digital X’s ability to differentiate itself from entrenched crypto exchanges. The profitability target for 2027 provides a clear benchmark, but the market will judge progress through user growth, product rollout, trading activity and institutional partnerships.

For now, Mirae’s plan marks a significant statement of intent. A major South Korean financial group is not merely buying into crypto exposure; it is attempting to build a digital asset infrastructure business around a licensed exchange, tokenized assets and on-chain finance. If successful, Digital X could become one of the most closely watched examples of how traditional finance enters the next phase of crypto markets.

Frequently Asked Questions (FAQs)

What is Mirae Asset planning for Digital X?

Mirae Asset Financial Group plans to grow Digital X, formerly Korbit, into a 150 trillion won, or $109 billion, digital asset business focused on cryptocurrency, stablecoins, real-world assets and security token offerings.

When does Mirae expect Digital X to become profitable?

Park Hyeon-joo told employees that Mirae aims to make Digital X profitable by 2027, giving the company time to integrate the platform and expand its digital asset services.

What was Digital X called before the rebrand?

Digital X was formerly known as Korbit. Korbit was founded in 2013, and Mirae acquired a 97% stake in the exchange in July before renaming it Digital X.

Which digital asset areas will Digital X focus on?

Digital X will focus on cryptocurrency, stablecoins, real-world assets and security token offerings. Mirae also plans to develop an on-chain finance ecosystem connected to traditional assets.

What physical assets could be tokenized under the plan?

Mirae’s plan includes tokenizing physical assets such as gold, silver and electricity, placing real-world asset tokenization at the center of the Digital X growth strategy.

Why is South Korea important for crypto expansion?

South Korea has 11.3 million verified crypto users, and local retail crypto trading volumes often rival stock exchange volumes, making licensed exchange ownership strategically important.

What rules is South Korea developing for digital assets?

South Korea is working on the Digital Asset Basic Act, a broad framework expected to cover stablecoins, virtual asset service provider licensing and crypto exchange-traded funds.

How does Shinhan Financial Group fit into the market backdrop?

Shinhan Financial Group is developing stablecoin infrastructure and AI-powered payment models with Visa, highlighting growing competition among major South Korean financial institutions in digital assets.

What makes Digital X different from a typical crypto exchange?

Mirae is positioning Digital X as more than a trading venue. The plan is to build an investment ecosystem that links digital assets, RWAs, STOs, stablecoins and traditional finance.

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