Mirae Asset Consulting is preparing to inject 50 billion won ($35.3 million) into DigitalX Co., the company operating South Korean cryptocurrency exchange Korbit, adding fresh capital shortly after completing its acquisition of the business.
DigitalX’s board approved a third-party share issuance of more than 10 million new common shares at 4,961 won per share, according to the company’s disclosure. Mirae Asset Consulting is set to receive the entire allotment, with payment scheduled for Aug. 27. The transaction would give the new controlling shareholder additional funding capacity as it integrates one of South Korea’s five licensed fiat-to-crypto trading platforms.
The company said the proceeds will be used to strengthen its financial structure and meet urgent management needs. A spokesperson declined to confirm further details in a phone call.
Fresh capital follows Korbit takeover
Mirae Asset Consulting acquired a 97.15% stake in Korbit for roughly 130 billion won ($91.5 million) in July, according to the transaction details. South Korea’s Fair Trade Commission approved the deal last month, clearing a path for the financial group to take control of the exchange operator.
The planned capital increase takes the total financial commitment beyond the initial purchase price and gives DigitalX funds that can be deployed within the operating company rather than through an external shareholder arrangement. For a regulated trading platform, a stronger balance sheet can support compliance operations, technology spending, customer-service capacity and the costs associated with maintaining systems for Korean won deposits and withdrawals.
DigitalX recently said it would change its corporate name from Korbit Co. to DigitalX Co. The exchange itself will continue to operate under the Korbit name for now. The split between the corporate identity and consumer-facing trading brand suggests Mirae Asset is preserving Korbit’s established recognition among domestic users while reshaping the ownership structure behind it.
Korbit was founded in 2013 and became one of South Korea’s early cryptocurrency exchanges. Its position in the market has since been eclipsed by larger rivals, particularly Upbit and Bithumb, but its regulatory status remains a scarce asset. Only five Korean virtual-asset service providers are fully licensed to offer trading pairs involving the Korean won, placing Korbit among a small group able to serve the country’s mainstream domestic trading market directly.
Financial groups seek stakes in licensed operators
Mirae Asset’s move forms part of a series of investments by established Korean financial companies in local crypto businesses. The deals have concentrated on firms with operating infrastructure, domestic customer bases and regulatory permissions, rather than on token holdings or short-term trading exposure.
Hana Bank acquired a 6.55% stake in Dunamu, the parent company of Upbit. Three Samsung affiliates, including Samsung Securities, also acquired a combined 4% stake in Dunamu, according to the information provided on those transactions. Dunamu operates South Korea’s largest crypto exchange and has become a central point of contact between traditional financial institutions and the country’s digital-asset market.
Korea Investment & Securities separately secured about a 20% stake in Coinone in a transaction that included OKX Ventures. Coinone is another licensed Korean won exchange operator, although it has a smaller market presence than Upbit and Bithumb.
These transactions point to a practical constraint in South Korea’s market: regulated exchange permissions are limited, and securing a position in an existing operator may be more feasible than building a new fiat-trading platform from scratch. Korean exchanges handling won transactions face requirements involving real-name bank accounts, anti-money-laundering controls, information-security certification and registration under the country’s virtual-asset rules.
A controlling acquisition also gives the buyer more direct influence over operational priorities than a minority strategic stake. Mirae Asset Consulting’s 97.15% holding places it in a position to direct DigitalX’s funding, governance and potential expansion plans, subject to the rules governing the exchange and its regulated activities.
Korbit faces a concentrated trading market
The new funding arrives as Korbit competes in a market dominated by a small number of platforms. Upbit and Bithumb account for much of Korean retail crypto trading activity, while Korbit, Coinone and Gopax operate on a smaller scale.
That concentration makes Korbit’s licence valuable but does not guarantee increased trading activity. DigitalX will need to translate the new capital into services or operational improvements that distinguish the platform in a market where liquidity, available trading pairs, banking relationships and user experience can determine where customers trade.
The company has not detailed how it plans to allocate the 50 billion won beyond its stated goals of financial improvement and urgent management needs. There was also no indication that the issuance would alter the Korbit brand, change fee structures, add products or introduce a revised customer strategy.
The immediate effect is corporate rather than market-wide: DigitalX would receive a material cash injection from its controlling owner after the ownership transfer. Yet the transaction also extends the presence of Korea’s financial establishment inside the country’s regulated crypto-market infrastructure, where licensed access to won trading remains difficult to obtain.
For Korbit, the next test will be whether its new owner uses that financial backing to improve its competitive position while retaining the regulatory standing that made the acquisition attractive in the first place.
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