Mirae Asset sets $109 bil. target for digital asset business
Mirae Asset Financial Group plans to build a 150 trillion won ($109 billion) digital asset business around Digital X, formerly known as Korbit, as it seeks to make crypto and blockchain-based finance a new growth engine, its founder said Thursday. Park Hyeon-joo, the group’s founder and chairman, outlined the ambition at an event for Digital X employees in Seoul on Wednesday, titled “A New Voyage…
Mirae Asset Financial Group aims to develop a digital asset business valued at $109 billion, centered on Digital X, the digital currency exchange formerly known as Korbit. This ambitious goal, announced by the group's founder Park Hyeon-joo on Wednesday, is part of Mirae Asset's strategy to transform cryptocurrency and blockchain technology into a primary driver of future growth.
Following its acquisition of a 97.15 percent stake in Korbit in July, the group rebranded the exchange as Digital X. The company intends to make the digital asset sector profitable by 2027 and is contemplating an additional investment of up to 300 billion won to boost its operations. Park emphasized that Digital X will become a cornerstone of "Mirae Asset 3.0" and anticipates expanding the digital asset business to a 150 trillion won market by harnessing the group's existing 1.5 trillion won in client assets.
The company may provide further capital support as the business continues to grow, with potential investments ranging from 200 billion to unspecified amounts.
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Also reported by 1 other outlet
- Mirae Asset ranks No. 11 globally as ETF assets reach $282 bil. koreatimes.co.kr
