Mirae Asset Consulting has taken majority control of Korbit, South Korea's oldest cryptocurrency exchange. The deal closed in July 2026 after the country's Fair Trade Commission approved it on July 9. The acquisition was valued at $102 million.
This is the first time an affiliate of a major Korean financial group has controlled a domestic crypto exchange. Mirae Asset Financial Group is one of South Korea's largest asset managers, with over $500 billion in assets under management.
The deal details
Mirae Asset Consulting, a subsidiary of Mirae Asset Financial Group, now holds a majority stake in Korbit. The exact percentage wasn't disclosed, but the $102 million valuation puts Korbit's total worth in that range. The Fair Trade Commission's approval on July 9 cleared the final regulatory hurdle. The transaction closed later that month.
Rebranding to Digital X
Korbit will rebrand as Digital X following the takeover. The new name signals a shift away from the Korbit brand, which has operated since 2013. It's unclear when the rebranding will take effect or what changes users can expect.
South Korea's crypto market has long been dominated by four exchanges: Upbit, Bithumb, Coinone, and Korbit. But Korbit has struggled to keep up with its larger rivals. Mirae Asset's backing could give it the capital and credibility to compete more aggressively. The move also blurs the line between traditional finance and crypto in a country where regulators have been cautious about institutional involvement.
Korbit's existing management team is expected to stay on during the transition. The exchange hasn't announced any immediate changes to its trading services or fee structure. The rebranding to Digital X is likely to roll out over the coming months. Mirae Asset hasn't said whether it plans to integrate Korbit with its other financial services.
