Mirae Asset Financial Group plans to build a $109 billion digital-asset business following its acquisition of the South Korean firm Digital X [1].
This move signals a shift in the South Korean financial landscape, as one of the region's largest investment groups attempts to move beyond a retail-heavy crypto market to capture institutional share through tokenized assets.
Park Hyeon-joo, the founder of Mirae Asset Financial Group, said the strategy on Thursday. The group has acquired a 97.15% stake [4] in Digital X, a company formerly known as Korbit [1]. The new digital-asset empire will focus on the development of stablecoins, security token offerings (STOs), and the tokenization of real-world assets (RWAs) [1, 4].
To support this expansion, the group intends to leverage client assets totaling 1,500 trillion won [2]. The firm has set a profit target for the new venture to be reached by 2027 [2].
While the South Korean crypto market has historically been dominated by retail traders, Mirae Asset aims to create a proprietary pipeline for institutional-grade assets [4]. The group has set a target market share of 0.5% for its exchange operations [4].
By integrating Digital X into its broader financial ecosystem, Mirae Asset seeks to bridge traditional finance with blockchain technology. This integration allows the group to offer a wider array of digital products, while utilizing its existing infrastructure to manage the underlying real-world assets [4].
“Mirae Asset plans to build a $109 billion digital-asset business”
This acquisition represents a strategic pivot toward the 'tokenization of everything,' where traditional financial instruments are converted into digital tokens. By targeting real-world assets and stablecoins rather than just speculative trading, Mirae Asset is attempting to institutionalize the South Korean crypto market and reduce its reliance on volatile retail sentiment.
