Mirae Asset Plans $109 Billion Digital Asset Push

South Korea's Mirae Asset Financial Group is targeting a 150 trillion won ($109 billion) digital asset business built around its newly acquired exchange Digital X, The Korea Times reported Thursday, citing Chairman Park Hyeon-joo.

Park told an employee event in Seoul that the company aims to turn the digital asset unit profitable by next year and may inject up to 300 billion won to expand operations. “Our initial goal is to make Digital X a core pillar of ‘Mirae Asset 3.0’ and grow the digital asset business to 150 trillion won by leveraging the group’s 1,500 trillion won in client assets,” he said.

Digital X, formerly known as Korbit, will lead Mirae Asset's on-chain finance push across cryptocurrency, stablecoins, real-world assets and security token offerings, Park added. The plan includes tokenizing physical commodities such as gold, silver and electricity, as well as developing custom financial products and making proprietary investments. The longer-term aim is a unified global platform combining traditional and digital assets, he said.

Park had told CoinDesk shortly after acquiring Digital X in July that he wanted to build the company into an “intelligent investment platform where knowledge, information and in-depth investment insights are organically connected.”

The move comes as U.S. banking groups form their own blockchain network. On Thursday, 39 state banker associations announced the BankChain Alliance, an industry-owned network designed to support smart payments, tokenized deposits, stablecoins and automated settlement. The group's announcement stressed ownership over blockchain technology, arguing that smaller and regional banks need to pool scale to compete with large institutions and fintechs.