Mirae Asset to inject additional $35 million into Korbit crypto exchange following July acquisition: report

DigitalX, the operator of South Korean crypto exchange Korbit and a newly acquired affiliate of Mirae Asset Group, has reportedly resolved to raise roughly 50 billion Korean won ($35.3 million) through a capital increase.According to South Korean news agency News1, DigitalX's board of directors approved the issuance of more than 10 million new common shares at 4,961 won ($3.5) per share. The entire issuance will reportedly be allotted to Mirae Asset Consulting, which owns DigitalX. Payment is due on Aug. 27, News1 reported.DigitalX stated that the funds will be used to improve its financial structure and address urgent management needs, per the report. A company spokesperson declined to confirm the news in a phone call with The Block.Mirae Asset completed the acquisition of Korbit in July, with Mirae Asset Consulting acquiring 97.15% of the company for roughly 130 billion won ($91.5 million). South Korea's Fair Trade Commission approved the acquisition last month.RebrandingEarlier this week, Korbit's operating company announced that it is changing its corporate name from Korbit Co. to DigitalX Co., while the digital asset trading platform will maintain the existing brand for the time being.Mirae Asset Group previously announced plans to develop DigitalX as a platform encompassing both digital and traditional financial assets, positioning it as a core element of the "Mirae Asset 3.0" strategy.Korbit is one of South Korea's five fully licensed crypto exchanges authorized to provide fiat-to-crypto trading services to customers. Currently, the local market is dominated by the two largest players — Upbit and Bithumb.Meanwhile, other major Korean financial institutions have also been acquiring stakes in local crypto exchanges.Hana Bank acquired a 6.55% stake in Dunamu, the operator of Upbit, while three Samsung affiliates, including Samsung Securities, took a combined 4% stake in the same company. Separately, Korea Investment & Securities secured roughly a 20% stake in Coinone with OKX Ventures.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.