South Korea’s Korbit to rebrand as Digital X under Mirae: Report

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