Mirae Embarks on Push to Build $109 Billion Digital Asset Empire

South Korea's Mirae Asset Financial Group is ramping up efforts to establish a $109 billion digital asset empire, according to a report in The Korea Times. The company aims to transform its newly acquired cryptocurrency exchange, Digital X, into a cornerstone of "Mirae Asset 3.0" and generate the desired revenue stream within a year.

To achieve this, Mirae is prepared to inject up to 300 billion won in capital into Digital X, leveraging its existing assets valued at 1,500 trillion won. Park Hyeon-joo, Mirae Asset's founder and chairman, outlined the company's strategy during an employee event in Seoul, focusing on four key areas: cryptocurrency, stablecoins, real-world assets, and security token offerings.

These initiatives encompass tokenizing commodities like gold and electricity, as well as developing proprietary financial products. Park envisions a unified global platform under Digital X, bridging traditional and digital assets. This ambitious expansion comes amid similar developments in the digital asset space, such as the BankChain Alliance, an industry-led blockchain network proposed by 39 state banker associations to support smart payments, tokenized deposits, stablecoins, and automated settlement.