Mirae Asset reportedly plans to use the South Korean crypto exchange as a hub for tokenized assets, stablecoins and digital finance.
South Korean crypto exchange Korbit will reportedly rebrand as Digital X after becoming part of 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 a Herald Business report. Park reportedly described Digital X as central to the group’s “Mirae Asset 3.0” strategy, which aims to combine digital assets with traditional finance.
The company plans to expand into real-world asset (RWA) tokenization, security token offerings, stablecoins and traditional asset products. Park said the exchange would prioritize anti-money laundering controls, customer verification, information security and fraud detection as South Korea develops its crypto and tokenized securities rules.
Mirae completed its acquisition of a 97% stake in Korbit on Thursday. Korbit said that its existing services would continue without changes following the acquisition.
Related: South Korea crypto volumes shrink as retail investors shift to stocks