Mirae Asset Group is proceeding with a ₹350 crore (50 billion won) rights offering for DigitalX, the operator of virtual asset exchange Korbit, following the completion of its acquisition. According to reports from BigGo Finance, DigitalX's board approved the capital increase on August 12, with payment scheduled for August 27. DigitalX will issue 10,078,614 common shares at ₹4,961 (4,961 won) each through a third-party allotment, with all new shares going to Mirae Asset Consulting, the Mirae affiliate that already controls 97.15% of the company. The structure allows capital expansion while maintaining the largest shareholder's control without diluting existing shareholders' stakes.
The injection follows Mirae Asset Consulting's July acquisition of Korbit, which was completed after securing regulatory clearance. As reported by BigGo Finance, Mirae initially agreed to acquire 92.06% of Korbit for approximately ₹1,170 crore (133.48 billion won). The group later purchased additional shares, taking its cumulative acquisition cost to around ₹1,270 crore (141.4 billion won). South Korea's Fair Trade Commission approved the combination on July 9 after concluding that it was unlikely to materially restrict competition, citing Korbit's roughly 0.5% share of the domestic crypto trading market in 2025. This marks the first case of a financial group affiliate acquiring a domestic virtual asset exchange in South Korea, with the capital injection representing the first large-scale expansion since the acquisition.
The capital injection comes after several loss-making years at Korbit. According to BigGo Finance, the exchange generated about ₹85 crore (9.8 billion won) in operating revenue during 2025 but recorded a ₹140 crore (15.4 billion won) operating loss, despite revenue increasing from the prior year. Korbit remains much smaller than South Korea's leading exchanges, with the Fair Trade Commission putting its 2025 market share at about 0.5%, compared with a market dominated by Upbit and Bithumb. The capital raised is expected to be used for capital expansion and strengthening future business competitiveness, with the proceeds intended to improve DigitalX's financial structure and secure emergency funding for operational needs.
Organizational restructuring has accelerated since the acquisition, with Korbit Co., Ltd. changing its corporate name to DigitalX Co., Ltd. on August 11. As reported by BigGo Finance, the Korbit exchange name will be maintained for the time being but is scheduled to be changed in the future. Founder and Global Strategy Officer Park Hyeon-joo has described DigitalX as a core component of the group's 'Mirae Asset 3.0' strategy, focusing on tokenization, stablecoins and links between traditional and digital assets. Mirae Asset Group envisions expanding DigitalX beyond a simple virtual asset exchange into a platform connecting traditional financial assets with digital assets, including security token offerings (STOs), digital asset custody, and asset management.
The investment comes during a broader move by established financial companies into South Korea's regulated exchange sector. According to BigGo Finance, the virtual asset industry interprets Mirae Asset Group's move as a signal of expansion beyond simple exchange operations into comprehensive digital asset business. However, some analysts note that given the volatility of the virtual asset market and regulatory uncertainty, the large-scale capital injection is focused on long-term platform building rather than generating short-term profits. The next concrete deadline is August 27, when Mirae Asset Consulting is due to pay for the newly issued shares, marking the first major capital injection into the exchange operator since Mirae took control. What specific business model Mirae Asset Group will present through DigitalX is expected to be a key point of interest going forward.
